Tex. Insurance Code § 424.210
This is the official text of Tex. Insurance Code § 424.210, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 424.210. OVERSIGHT BY COMMISSIONER.
Official statutory text
(a) Not later than the 10th day before the date an insurer is scheduled to enter into an initial hedging transaction, the insurer shall notify the commissioner in writing that:
(1) the insurer's board of directors has adopted an investment plan that authorizes hedging transactions; and
(2) each hedging transaction will comply with this subchapter.
(b) If a hedging transaction does not comply with this subchapter or if continuing the transaction may create a hazardous financial condition for the insurer that affects the insurer's policyholders or creditors or the public, the commissioner may, after notice and an opportunity for a hearing, order the insurer to take action that the commissioner determines is reasonably necessary to:
(1) remedy a hazardous financial condition; or
(2) prevent an impending hazardous financial condition from occurring.
(1) the insurer's board of directors has adopted an investment plan that authorizes hedging transactions; and
(2) each hedging transaction will comply with this subchapter.
(b) If a hedging transaction does not comply with this subchapter or if continuing the transaction may create a hazardous financial condition for the insurer that affects the insurer's policyholders or creditors or the public, the commissioner may, after notice and an opportunity for a hearing, order the insurer to take action that the commissioner determines is reasonably necessary to:
(1) remedy a hazardous financial condition; or
(2) prevent an impending hazardous financial condition from occurring.
Status: in_force · Read it on the official government site
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