Tex. Insurance Code § 403.101
This is the official text of Tex. Insurance Code § 403.101, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 403.101. PENALTIES.
Official statutory text
(a) The department may revoke the charter of an insurer organized under the laws of this state that pays a dividend in violation of Sections 403.001 and 403.051. If the department revokes an insurer's charter under this subsection, the department shall immediately revoke the insurer's certificate of authority.
(b) Not later than the 10th day before the date on which the department intends to revoke an insurer's certificate of authority under this section, the department shall give the insurer written notice of the department's intent. The notice must include the specific reasons for the revocation.
(b) Not later than the 10th day before the date on which the department intends to revoke an insurer's certificate of authority under this section, the department shall give the insurer written notice of the department's intent. The notice must include the specific reasons for the revocation.
Status: in_force · Read it on the official government site
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