Sec. 2203.4515. SUSPENSION OF NEW BUSINESS. (a) Promptly after the completion of the actuarial study required by Section 2203.451, the commissioner, after notice and hearing, shall determine whether a necessity exists to suspend the association's authority to issue new insurance policies pending a future enactment by the legislature that becomes law or the expiration of this subchapter under Section 2203.452, whichever occurs earlier.
(b) If the commissioner determines that a necessity described by Subsection (a) exists, the commissioner shall order the association to cease issuing new policies immediately, and the association may not issue a new policy before the expiration of this subchapter under Section 2203.452 unless authorized by a law that takes effect before the expiration of this subchapter.
(c) Notwithstanding any order under this section, the association may continue to renew policies in effect immediately before the effective date of the order in accordance with the association's plan of operation.
Added by Acts 2015, 84th Leg., R.S., Ch. 321 (S.B. 18), Sec. 8, eff. September 1, 2015.
Section: Previous 2203.357 2203.358 2203.359 2203.360 2203.361 2203.362 2203.363 2203.401 2203.402 2203.403 2203.404 2203.405 2203.406 2203.451 2203.4515Last modified: September 28, 2016