Sec. 2201.158. INJUNCTIVE RELIEF. (a) A risk retention group not chartered in this state must comply with the terms of an injunction issued by a court of this state or any other state based on a finding that the group is in a hazardous financial condition or is financially impaired.
(b) Injunctive relief must be issued by a court if the commissioner seeks to enjoin a risk retention group not chartered in this state from:
(1) violating the law of this state prohibiting deceptive, false, or fraudulent acts or practices;
(2) soliciting or selling insurance to a person who is not eligible for membership in the group; or
(3) soliciting or selling insurance or operating when the group is in a hazardous financial condition or is financially impaired.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
OF RISK RETENTION GROUPS
Last modified: September 28, 2016