Tex. Insurance Code § 443.351
This is the official text of Tex. Insurance Code § 443.351, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 443.351. CONDITION ON RELEASE FROM DELINQUENCY PROCEEDINGS.
Official statutory text
Until all payments of or on account of the insurer's contractual obligations by all guaranty associations, along with all expenses of the obligations and interest on all the payments and expenses, are repaid to the guaranty associations, unless otherwise provided in a plan approved by the guaranty association, an insurer that is subject to any formal delinquency proceedings may not:
(1) solicit or accept new business or request or accept the restoration of any suspended or revoked license or certificate of authority;
(2) be returned to the control of its shareholders or private management; or
(3) have any of its assets returned to the control of its shareholders or private management.
(1) solicit or accept new business or request or accept the restoration of any suspended or revoked license or certificate of authority;
(2) be returned to the control of its shareholders or private management; or
(3) have any of its assets returned to the control of its shareholders or private management.
Status: in_force · Read it on the official government site
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