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Texas Insurance Code - INS § 441.151. Appointment of Conservator

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 441.151. Appointment of Conservator - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-441-151/

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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