Tex. Insurance Code § 441.151
This is the official text of Tex. Insurance Code § 441.151, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 441.151. APPOINTMENT OF CONSERVATOR.
Official statutory text
(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:
(i) is insolvent;
(ii) appears to have exceeded the insurer's powers; or
(iii) has failed to comply with any requirement of the commissioner; or
(B) the insurer agrees to the appointment of a conservator; and
(2) if it is determined that supervision is inadequate to rehabilitate the insurer.
(b) The commissioner may appoint a conservator.
(1) if:
(A) after notice and opportunity for hearing, it is determined that the insurer:
(i) is insolvent;
(ii) appears to have exceeded the insurer's powers; or
(iii) has failed to comply with any requirement of the commissioner; or
(B) the insurer agrees to the appointment of a conservator; and
(2) if it is determined that supervision is inadequate to rehabilitate the insurer.
(b) The commissioner may appoint a conservator.
Status: in_force · Read it on the official government site
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