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Texas Insurance Code - INS § 843.407. Receivership and Delinquency Proceedings

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

(a) In addition to all other remedies available by law, if the commissioner believes that a health maintenance organization or another person is insolvent or does not maintain the net worth required under Sections 843.403, 843.4031, and 843.404, the commissioner may bring an action in a Travis County district court to be named receiver in accordance with Section 843.157 and Chapter 443.

(b) The court may:

(1) find that a receiver should take charge of the assets of the health maintenance organization;  and

(2) name the commissioner as the receiver of the health maintenance organization in accordance with Section 843.157 and Chapter 443.

(c) The operations and business of a health maintenance organization represent the business of insurance for purposes of Section 843.157 and Chapters 441 and 443.

(d) Exclusive venue of receivership and delinquency proceedings for a health maintenance organization is in Travis County.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 843.407. Receivership and Delinquency Proceedings - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-843-407/

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