Sec. 841.207. ACTIONS OF COMMISSIONER WHEN CAPITAL AND SURPLUS REQUIREMENTS NOT SATISFIED. If an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may order the insurance company to cease writing new business and may:
(1) place the insurance company under state supervision or conservatorship;
(2) declare the insurance company to be in a hazardous condition as provided by Subchapter A, Chapter 404;
(3) declare the insurance company to be impaired as provided by Section 841.206; or
(4) apply to the insurance 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.022, eff. April 1, 2009.
Last modified: September 28, 2016