STATE STATUTES & CODES
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TEXAS STATUTES AND CODES
CHAPTER 86. REVOCATION OR MODIFICATION OF CERTIFICATE OF AUTHORITY; AUTHORITY TO BRING CERTAIN ACTIONS
INSURANCE CODE
TITLE 2. TEXAS DEPARTMENT OF INSURANCE
SUBTITLE B. DISCIPLINE AND ENFORCEMENT
CHAPTER 86. REVOCATION OR MODIFICATION OF CERTIFICATE OF
AUTHORITY; AUTHORITY TO BRING CERTAIN ACTIONS
SUBCHAPTER A. REVOCATION OR MODIFICATION OF CERTIFICATE
OF AUTHORITY
Sec. 86.001. AUTHORITY TO REVOKE OR MODIFY CERTIFICATE OF
AUTHORITY. The commissioner may revoke or modify a certificate
of authority if a condition or requirement prescribed by law for
granting the certificate is no longer satisfied.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 12, eff. April 1, 2007.
Sec. 86.002. NOTICE OF INTENT TO REVOKE OR MODIFY CERTIFICATE OF
AUTHORITY. (a) The commissioner must notify an insurance
carrier in writing of the commissioner's intent to revoke or
modify the carrier's certificate of authority.
(b) The commissioner must provide the notice not later than the
10th day before the date the revocation or modification is to
occur.
(c) The commissioner must specifically state in the notice the
reason for the action.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 12, eff. April 1, 2007.
SUBCHAPTER B. AUTHORITY TO BRING CERTAIN ACTIONS
Sec. 86.051. AUTHORITY TO BRING ACTION FOR OR PROSECUTE
VIOLATION OF LAW. The department, through the attorney general
or an attorney designated by the attorney general, may institute
an action relating to or initiate a prosecution for a violation
of a law of this state relating to insurance.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 12, eff. April 1, 2007.
Sec. 86.052. AUTHORITY TO BRING ACTION TO CLOSE AFFAIRS OR
RESTRAIN BUSINESS OF DOMESTIC INSURANCE COMPANY. Only the
department may bring an action to:
(1) close the affairs of an insurance company organized under
the laws of this state; or
(2) enjoin, restrain, or interfere with the prosecution of the
business of an insurance company organized under the laws of this
state.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 12, eff. April 1, 2007.