reglab/housing_qa huggingface dataset:
TX Ins Code § 427.055 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 427 - Subordinated Indebtedness|Subchapter B. Loan, Advance, and Other Indebtedness|Section 427.055. Payment of Principal or Interest on Certain Liabilities

Sec. 427.055.  PAYMENT OF PRINCIPAL OR INTEREST ON CERTAIN LIABILITIES.  (a)  An insurer or health maintenance organization may not pay principal or interest on a subordinated liability assumed under Section 427.052 or Subchapter C, Chapter 823, on or after September 1, 1995, unless:(1)  the payment complies with a schedule of payments contained in the agreement approved by the commissioner in accordance with Section 427.052 or Subchapter C, Chapter 823; or(2)  if the payment does not comply with the schedule of payments contained in the agreement or the agreement does not contain a payment schedule, the insurer or health maintenance organization provides written notice to the commissioner not later than the 15th day before the scheduled payment date.(b)  A loan, debenture, revenue bond, or advance agreement issued to an insurer or health maintenance organization before September 1, 1995, and any subsequent payment of principal or interest on the indebtedness are governed by the law in effect on the date of issuance.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.002 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.002. Definition

Sec. 441.002.  DEFINITION.  In this chapter, unless the purposes of this chapter clearly require or the context clearly indicates another meaning, "insurer" means a person, organization, or company, regardless of whether the person or entity is authorized or admitted, that engages in the business of insurance or that acts as a principal or agent of a person, organization, or company engaged in the business of insurance.  The term includes a stock insurance company, reciprocal or interinsurance exchange, Lloyd's plan, fraternal benefit society, stipulated premium company, title insurance company, and mutual insurance company of any kind, including a statewide mutual assessment company, local mutual aid association, burial association, county mutual insurance company, and farm mutual insurance company.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.003 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.003. Applicability of and Compliance With Chapter

Sec. 441.003.  APPLICABILITY OF AND COMPLIANCE WITH CHAPTER.  Compliance with this chapter is a condition of engaging in the business of insurance in this state.  This chapter applies to, and is a consequence of, any other transaction with respect to an insurer or insurance.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.004 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.004. Actions of Commissioner

Sec. 441.004.  ACTIONS OF COMMISSIONER.  (a)  In the event of an insurer's delinquency or suspected delinquency, the commissioner, in the commissioner's administrative discretion, may act under this chapter, another applicable law, or a combination of this chapter and another applicable law.(b)  If the commissioner determines to act under this chapter or is directed by a court to act under this chapter, the commissioner shall comply with the requirements of this chapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.005 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.005. Rules; Authority for Administrative Action

Sec. 441.005.  RULES; AUTHORITY FOR ADMINISTRATIVE ACTION.  (a)  The commissioner may:(1)  adopt reasonable rules as necessary to implement and supplement this chapter and the purposes of this chapter; and(2)  take any administrative action required by the findings of Section 441.001.(b)  The authority granted by this section may be inferred from the context of this chapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.006 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.006. Rules and Procedures for Merger of Insurers

Sec. 441.006.  RULES AND PROCEDURES FOR MERGER OF INSURERS.  (a)  The commissioner shall adopt rules that encourage the merger of insurers in weak financial condition with insurers in strong financial condition in cases in which rehabilitation or conservation of an insurer would be inefficient or impracticable.(b)  The rules and procedures for conservatorship may not be used unless the rules and procedures adopted to promote the merger of insurers in weak financial condition are followed.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.007 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.007. Conflict With Other Laws

Sec. 441.007.  CONFLICT WITH OTHER LAWS.  If this chapter conflicts with any other law, this chapter prevails.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.008 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter A. General Provisions|Section 441.008. Inapplicability of Certain Administrative Procedure Provisions

Sec. 441.008.  INAPPLICABILITY OF CERTAIN ADMINISTRATIVE PROCEDURE PROVISIONS.  Section 2001.062, Government Code, does not apply to a hearing conducted under this chapter.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.051 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter B. Determination and Notice|Section 441.051. Circumstances Constituting Insolvency or Delinquency

Sec. 441.051.  CIRCUMSTANCES CONSTITUTING INSOLVENCY OR DELINQUENCY.  For the purposes of this chapter, the circumstances in which an insurer is considered insolvent, delinquent, or threatened with delinquency include circumstances in which the insurer:(1)  has required surplus, capital, or capital stock that is impaired to an extent prohibited by law;(2)  continues to write new business when the insurer does not have the surplus, capital, or capital stock that is required by law to write new business;(3)  conducts the insurer's business fraudulently; or(4)  attempts to dissolve or liquidate without first having made provisions satisfactory to the commissioner for liabilities arising from insurance policies issued by the insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.052 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter B. Determination and Notice|Section 441.052. Circumstances Constituting Insurer Exceeding Powers

Sec. 441.052.  CIRCUMSTANCES CONSTITUTING INSURER EXCEEDING POWERS.  For the purposes of this chapter, the circumstances in which an insurer is considered to have exceeded the insurer's powers include circumstances in which the insurer:(1)  refuses to permit the commissioner, the commissioner's deputy, or an examiner appointed by the department to examine the insurer's books, papers, accounts, records, or affairs;(2)  is organized in this state and removes from the state books, papers, accounts, or records that are necessary to examine the insurer;(3)  fails to promptly answer inquiries authorized by Section 38.001;(4)  fails to comply with an order of the commissioner to remedy, within the time prescribed by law, a prohibited deficiency in the insurer's capital, capital stock, or surplus;(5)  without obtaining the commissioner's prior written approval:(A)  totally reinsures the insurer's entire outstanding business; or(B)  merges or consolidates substantially all of the insurer's property or business with another insurer;(6)  continues to write business after the insurer's certificate of authority has been revoked or suspended; or(7)  is in a condition that makes the insurer's continuation in business hazardous to the public or to the insurer's policyholders or certificate holders.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.053 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter B. Determination and Notice|Section 441.053. Notice to Insurer

Sec. 441.053.  NOTICE TO INSURER.  (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.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.101 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter C. Supervision|Section 441.101. Appointment of Supervisor

Sec. 441.101.  APPOINTMENT OF SUPERVISOR.  The commissioner may appoint a supervisor to supervise an insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.102 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter C. Supervision|Section 441.102. Time for Compliance With Requirements of Supervision

Sec. 441.102.  TIME FOR COMPLIANCE WITH REQUIREMENTS OF SUPERVISION.  An insurer under supervision must comply with the commissioner's requirements under Section 441.053 not later than the 180th day after the date of the commissioner's notice of supervision.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.103 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter C. Supervision|Section 441.103. Payment of Claims

Sec. 441.103.  PAYMENT OF CLAIMS.  An insurer under supervision shall continue to pay claims under an insurance policy according to the terms of the policy.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.104 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter C. Supervision|Section 441.104. Prohibited Acts During Supervision

Sec. 441.104.  PROHIBITED ACTS DURING SUPERVISION.  During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor:(1)  disposing of, conveying, or encumbering any of the insurer's assets or business in force;(2)  withdrawing money from the insurer's bank accounts;(3)  lending or investing the insurer's money;(4)  transferring the insurer's property;(5)  incurring a debt, obligation, or liability;(6)  merging or consolidating with another company;(7)  entering into a new reinsurance contract or treaty;(8)  terminating, surrendering, forfeiting, converting, or lapsing an insurance policy, except for nonpayment of premiums due; or(9)  releasing, paying, or refunding premium deposits, accrued cash or loan values, unearned premiums, or other reserves on an insurance policy.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.105 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter C. Supervision|Section 441.105. Hearing on Supervision; Termination by Conservation or Release

Sec. 441.105.  HEARING ON SUPERVISION; TERMINATION BY CONSERVATION OR RELEASE.  (a)  On the commissioner's own motion or the motion of a party of record, a hearing may be scheduled relating to an insurer under supervision after at least 10 days' written notice to each party of record.  Notice may be waived by the parties of record.(b)  The commissioner shall place the insurer in conservatorship if, after the hearing, it is determined that the insurer:(1)  failed to comply with the commissioner's requirements;(2)  has not been rehabilitated;(3)  is insolvent; or(4)  appears to have exceeded the insurer's powers.(c)  The commissioner may release the insurer from supervision if, after the hearing, it is determined that the insurer:(1)  has been rehabilitated; or(2)  is no longer in a condition that makes the insurer's continuation in business hazardous to the public or to the insurer's policyholders or certificate holders.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.151 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.151. Appointment of Conservator

Sec. 441.151.  APPOINTMENT OF CONSERVATOR.  (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.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.152 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.152. Notice of Conservatorship

Sec. 441.152.  NOTICE OF CONSERVATORSHIP.  (a)  Not later than the seventh day after the date the commissioner enters an order appointing a conservator for an insurer as provided by Section 441.151 or Subchapter F, the commissioner shall publish notice of the conservatorship in at least one newspaper of general circulation in each county with a population of at least 100,000.(b)  The notice must include:(1)  the name of the insurer placed in conservatorship;(2)  the date the insurer was placed in conservatorship in this state;(3)  the reasons for placing the insurer in conservatorship;(4)  any action with respect to the insurer that is available to a policyholder; and(5)  any requirement with which a policyholder must comply.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.153 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.153. Powers and Duties of Conservator

Sec. 441.153.  POWERS AND DUTIES OF CONSERVATOR.  (a)  The conservator appointed for an insurer under Section 441.151 shall immediately take charge of the insurer and all of the insurer's property, books, records, and effects, conduct the insurer's business, and act to remove the causes and conditions that made the conservatorship order necessary, as directed by the commissioner.(b)  During the conservatorship, the conservator shall provide reports to the commissioner as required by the commissioner and may:(1)  take all necessary measures in the conservator's own name as conservator to preserve, protect, or recover any asset or property of the insurer, including a claim or cause of action that the insurer may assert; and(2)  file a suit, or prosecute and defend a suit filed by or against the insurer, as the conservator considers necessary to protect all of the interested parties or any property affected by the suit.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.154 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.154. Payment of Claims

Sec. 441.154.  PAYMENT OF CLAIMS.  An insurer under conservatorship shall continue to pay claims under an insurance policy according to the terms of the policy.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.155 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.155. Reinsurance During Conservatorship

Sec. 441.155.  REINSURANCE DURING CONSERVATORSHIP.  (a)  If during a conservatorship it appears that the interest of the insurer's policyholders or certificate holders is best protected by reinsuring the policies or certificates, the conservator may, with the approval of or at the direction of the commissioner:(1)  reinsure all or part of the insurer's policies or certificates with a solvent insurer authorized to engage in business in this state; and(2)  to the extent that the insurer has reserves attributable to the reinsured policies or certificates, transfer to the reinsurer reserves in an amount sufficient to reinsure the policies or certificates.(b)  A transfer of reserves under this section may not be considered a preference of a creditor.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.156 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.156. Hearings During Conservatorship

Sec. 441.156.  HEARINGS DURING CONSERVATORSHIP.  (a)  On the commissioner's own motion or the motion of a party of record, a hearing relating to an insurer in conservatorship may be scheduled after at least 10 days' written notice to each party of record.(b)  The notice required by this section may be waived by the parties of record.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.157 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.157. Immunity

Sec. 441.157.  IMMUNITY.  A conservator and the conservator's agents and employees are not liable, and a cause of action does not arise against the conservator or an agent or employee, for an action taken or not taken by the conservator, agent, or employee in connection with the adjustment, negotiation, or settlement of a claim.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.158 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.158. Venue

Sec. 441.158.  VENUE.  (a)  A suit against an insurer in conservatorship or against the conservator may be filed only in Travis County unless the cause of action is based on the terms of an insurance policy issued by the insurer.(b)  A conservator appointed under this chapter may file suit in Travis County against any person to preserve, protect, or recover any asset or property of the insurer, including a claim or cause of action that may be asserted by the insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.159 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.159. Duration of Conservatorship

Sec. 441.159.  DURATION OF CONSERVATORSHIP.  (a)  Except as provided by Subsection (b), a conservator appointed under this chapter shall complete the conservator's duties as required by this chapter not later than the 90th day after the date of appointment.(b)  If the commissioner issues written findings that there is a substantial likelihood of rehabilitation of the insurer in conservatorship, the commissioner may extend the conservatorship for additional successive 30-day periods.  The total period of extensions may not exceed 180 consecutive days.  A hearing is not required before the commissioner issues the findings.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 441.160 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle C - Delinquent Insurers|Chapter 441 - Supervision and Conservatorship|Subchapter D. Conservatorship|Section 441.160. Return to Management

Sec. 441.160.  RETURN TO MANAGEMENT.  An insurer that is rehabilitated shall be returned to management or placed under new management under reasonable conditions that best tend to prevent defeat of the purposes of the conservatorship.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|