Sec. 827.003. WITHDRAWAL PLAN REQUIRED. An insurer shall file with the commissioner a plan for orderly withdrawal if the insurer proposes to:
(1) reduce the insurer's total annual premium volume by 50 percent or more;
(2) reduce the insurer's annual premium by 75 percent or more in a line of insurance in this state; or
(3) reduce in this state, or in any applicable rating territory, the insurer's total annual premium volume in a line of personal automobile or residential property insurance by 50 percent or more.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 206, Sec. 10.03, eff. June 11, 2003.
Section: Previous 827.001 827.002 827.003 827.004 827.005 827.006 827.007 827.008 827.009 827.010 NextLast modified: September 28, 2016