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Current as of January 01, 2024 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 441.053. Notice to Insurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-441-053/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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