Texas Insurance Code Title 4, Chapter 441 - Supervision And Conservatorship
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 441.001 - Findings And Purpose
(a) An insurer delinquency, or the state's inability to properly proceed in a threatened delinquency, directly or indirectly affects other insurers by creating a lack...
- Texas Section 441.002 - Definition
In this chapter, unless the purposes of this chapter clearly require or the context clearly indicates another meaning, "insurer" means a person, organization, or company,...
- Texas Section 441.003 - Applicability Of And Compliance With Chapter
Compliance with this chapter is a condition of engaging in the business of insurance in this state. This chapter applies to, and is a consequence...
- Texas Section 441.004 - Actions Of Commissioner
(a) In the event of an insurer's delinquency or suspected delinquency, the commissioner, in the commissioner's administrative discretion, may act under this chapter, another applicable...
- Texas Section 441.005 - Rules; Authority For Administrative Action
(a) The commissioner may: (1) adopt reasonable rules as necessary to implement and supplement this chapter and the purposes of this chapter; and (2) take...
- Texas Section 441.006 - Rules And Procedures For Merger Of Insurers
(a) The commissioner shall adopt rules that encourage the merger of insurers in weak financial condition with insurers in strong financial condition in cases in...
- Texas Section 441.007 - Conflict With Other Laws
If this chapter conflicts with any other law, this chapter prevails. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April...
SUBCHAPTER B DETERMINATION AND NOTICE
- Texas Section 441.008 - Inapplicability Of Certain Administrative Procedure Provisions
Section 2001.062, Government Code, does not apply to a hearing conducted under this chapter. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec....
- Texas Section 441.051 - Circumstances Constituting Insolvency Or Delinquency
For the purposes of this chapter, the circumstances in which an insurer is considered insolvent, delinquent, or threatened with delinquency include circumstances in which the...
- Texas Section 441.052 - Circumstances Constituting Insurer Exceeding Powers
For the purposes of this chapter, the circumstances in which an insurer is considered to have exceeded the insurer's powers include circumstances in which the...
SUBCHAPTER C SUPERVISION
- Texas Section 441.053 - Notice To Insurer
(a) If at any time the commissioner determines that an insurer is insolvent, has exceeded the insurer's powers, or has otherwise failed to comply with...
- Texas Section 441.101 - Appointment Of Supervisor
The commissioner may appoint a supervisor to supervise an insurer. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1,
- Texas Section 441.102 - Time For Compliance With Requirements Of Supervision
An insurer under supervision must comply with the commissioner's requirements under Section 441.053 not later than the 180th day after the date of the commissioner's...
- Texas Section 441.103 - Payment Of Claims
An insurer under supervision shall continue to pay claims under an insurance policy according to the terms of the policy. Added by Acts 2005, 79th...
- Texas Section 441.104 - Prohibited Acts During Supervision
During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor: (1)...
SUBCHAPTER D CONSERVATORSHIP
- Texas Section 441.105 - Hearing On Supervision; Termination By Conservation Or Release
(a) On the commissioner's own motion or the motion of a party of record, a hearing may be scheduled relating to an insurer under supervision...
- Texas Section 441.151 - Appointment Of Conservator
(a) The commissioner may appoint a conservator for an insurer: (1) if: (A) after notice and opportunity for hearing, it is determined that the insurer:...
- Texas Section 441.152 - Notice Of Conservatorship
(a) Not later than the seventh day after the date the commissioner enters an order appointing a conservator for an insurer as provided by Section...
- Texas Section 441.153 - Powers And Duties Of Conservator
(a) The conservator appointed for an insurer under Section 441.151 shall immediately take charge of the insurer and all of the insurer's property, books, records,...
- Texas Section 441.154 - Payment Of Claims
An insurer under conservatorship shall continue to pay claims under an insurance policy according to the terms of the policy. Added by Acts 2005, 79th...
- Texas Section 441.155 - Reinsurance During Conservatorship
(a) If during a conservatorship it appears that the interest of the insurer's policyholders or certificate holders is best protected by reinsuring the policies or...
- Texas Section 441.156 - Hearings During Conservatorship
(a) On the commissioner's own motion or the motion of a party of record, a hearing relating to an insurer in conservatorship may be scheduled...
- Texas Section 441.157 - Immunity
A conservator and the conservator's agents and employees are not liable, and a cause of action does not arise against the conservator or an agent...
- Texas Section 441.158 - Venue
(a) A suit against an insurer in conservatorship or against the conservator may be filed only in Travis County unless the cause of action is...
- Texas Section 441.159 - Duration Of Conservatorship
(a) Except as provided by Subsection (b), a conservator appointed under this chapter shall complete the conservator's duties as required by this chapter not later...
SUBCHAPTER E PROVISIONS APPLYING TO SUPERVISION AND CONSERVATORSHIP
- Texas Section 441.160 - Return To Management
An insurer that is rehabilitated shall be returned to management or placed under new management under reasonable conditions that best tend to prevent defeat of...
- Texas Section 441.201 - Confidentiality
(a) Hearings and orders, notices, correspondence, reports, records, and other information in the department's possession relating to the supervision or conservatorship of an insurer are...
- Texas Section 441.202 - Costs Of Supervision And Conservatorship
The commissioner shall determine the costs related to services provided by a supervisor or conservator under this chapter. Subject to Section 442.551, the costs shall...
- Texas Section 441.203 - Collection Of Fees From Rehabilitated Insurer
(a) The commissioner may collect fees from an insurer described by Section 82.002 that is successfully rehabilitated by the commissioner. The fees must be in...
- Texas Section 441.204 - Review And Stay Of Certain Acts Of Supervisor Or Conservator
(a) An insurer under supervision or conservatorship may request the commissioner or, in the commissioner's absence, the commissioner's appointed deputy to review an action taken...
- Texas Section 441.205 - Appeal Of Certain Orders
The following orders of the commissioner may be appealed under Subchapter D, Chapter 36: (1) an order appointing a supervisor and providing that the insurer...
- Texas Section 441.206 - Ex Parte Meeting With Commissioner
Notwithstanding any other law, the commissioner may, at the time of any proceeding or while a proceeding is pending under this chapter, meet with a...
SUBCHAPTER F OUT-OF-STATE INSURERS
- Texas Section 441.207 - Insurer Employees During Supervision Or Conservatorship
(a) Notwithstanding any other provision of this chapter, an insurer may employ an attorney, actuary, and accountant of the insurer's choice to assist the insurer...
- Texas Section 441.251 - Applicability
This chapter applies to an insurer engaged in the business of insurance in this state but not domiciled in this state, regardless of whether the...
- Texas Section 441.252 - Appointment Of Ancillary Supervisor Or Conservator
(a) The commissioner may appoint an ancillary supervisor or ancillary conservator for the assets located in this state of an insurer described by Section 441.251...
- Texas Section 441.253 - Powers And Duties Of Ancillary Supervisor Or Conservator
(a) An ancillary supervisor or ancillary conservator appointed under this subchapter has all the powers provided by Sections 441.153 and 441.155 with respect to the...
- Texas Section 441.254 - Failure To Comply With Requirements Of Supervision
The failure of an insurer described by Section 441.251 to comply during supervision with the requirements of Section 441.104 with respect to any asset or...
SUBCHAPTER G POWERS AND DUTIES OF ATTORNEY GENERAL
- Texas Section 441.255 - Referral For Remedial Action
The commissioner may refer an insurer described by Section 441.251 to the attorney general for remedial action, including application for appointment of a receiver under...
- Texas Section 441.301 - Remedial Action By Attorney General
(a) The commissioner may, at any time and regardless of whether an insurer is under supervision or conservatorship, determine that the insurer is not in...
SUBCHAPTER H AGENTS OF RECORD FOR CERTAIN INSUREDS
- Texas Section 441.302 - Forfeiture And Cancellation Of Charter On Conclusion Of Business
(a) Once all an insurer's policies are reinsured or terminated and the insurer's affairs are concluded as provided by this chapter, the commissioner shall report...
- Texas Section 441.351 - Agents Of Record
(a) Unless otherwise prohibited, the supervisor, conservator, or receiver of an insurer shall provide to the insured's agent of record a copy of each communication...
Last modified: September 28, 2016