Sec. 822.211. ACTION OF COMMISSIONER WHEN CAPITAL OR SURPLUS REQUIREMENTS NOT SATISFIED. If an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may enter an order prohibiting the company from writing new business and may:
(1) place the company under state supervision or conservatorship;
(2) declare the company to be in a hazardous condition as provided by Subchapter A, Chapter 404;
(3) declare the company to be impaired as provided by Subchapter B, Chapter 404; or
(4) apply to the company any other applicable sanction provided by this code.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.009, eff. April 1, 2009.
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