Tex. Ins. Code § 2210.0081 · Subchapter A. GENERAL PROVISIONS
CERTAIN ACTIONS BROUGHT AGAINST ASSOCIATION BY COMMISSIONER.
Not yet in force
Text of section effective on September 01, 2027
In an action brought by the commissioner against the association under Chapter 441:
(1) the association's inability to satisfy obligations under Subchapter M-1 or M-2 related to a financing arrangement entered into under this chapter constitutes a condition that makes the association's continuation in business hazardous to the public or to the association's policyholders for the purposes of Section 441.052;
(2) the time for the association to comply with the requirements of supervision or for the conservator to complete the conservator's duties, as applicable, is limited to three years from the date the commissioner commences the action against the association; and
(3) unless the commissioner takes further action against the association under Chapter 441, as a condition of release from supervision, the association must demonstrate to the satisfaction of the commissioner that the association is able to satisfy obligations under Subchapter M-1 or M-2 related to a financing arrangement entered into under this chapter.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Text of section effective until September 01, 2027
In an action brought by the commissioner against the association under Chapter 441:
(1) the association's inability to satisfy obligations under Subchapter M, M-1, or M-2 related to a financing arrangement entered into or the issuance of public securities under this chapter constitutes a condition that makes the association's continuation in business hazardous to the public or to the association's policyholders for the purposes of Section 441.052;
(2) the time for the association to comply with the requirements of supervision or for the conservator to complete the conservator's duties, as applicable, is limited to three years from the date the commissioner commences the action against the association; and
(3) unless the commissioner takes further action against the association under Chapter 441, as a condition of release from supervision, the association must demonstrate to the satisfaction of the commissioner that the association is able to satisfy obligations under Subchapter M, M-1, or M-2 related to a financing arrangement entered into or the issuance of public securities under this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 5, eff. September 28, 2011.
Amended by:
Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 2.01(a), eff. September 1, 2025.
Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 2.01(b), eff. September 1, 2027.
History (Text of section effective on September 01, 2027)
Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 5, eff. September 28, 2011.
Amended by:
Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 2.01(a), eff. September 1, 2025.
Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 2.01(b), eff. September 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2210.htm
- Text hash
- sha256 eff59205ff3e9db7c256d9b3f082c9cd4edb7c64c67d75d31fcb25f73217fb74
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.