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Tex. Insurance Code § 441.053

This is the official text of Tex. Insurance Code § 441.053, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.

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§ 441.053. NOTICE TO INSURER.

Official statutory text

(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 the law, the commissioner shall:

(1) notify the insurer of that determination;

(2) provide to the insurer a written list of the commissioner's requirements to abate the conditions on which that determination was based; and

(3) if the commissioner determines that the insurer requires supervision, notify the insurer that the insurer is under the commissioner's supervision and that the commissioner is invoking this chapter.

(b) The commissioner may provide the notice and information to an insurer that agrees to supervision.

(c) The insurer shall comply with the commissioner's requirements.

Status: in_force · Read it on the official government site

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