Tex. Ins. Code § 463.354 · Subchapter H. POWERS AND DUTIES OF COMMISSIONER AND DEPARTMENT
DEMAND TO CURE IMPAIRMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) When an impairment is declared and the amount of the impairment is determined, the commissioner shall serve a demand on the impaired insurer to cure the impairment within a reasonable time.
(b) Notice of the demand under Subsection (a) to the impaired insurer constitutes notice to any shareholders of the insurer.
(c) Failure of the impaired insurer to comply promptly with the demand does not excuse the association from exercising the association's powers and performing the association's duties under this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.463.htm
- Text hash
- sha256 33072e219ab2a6b6d29dc166da17ae9bb063423cff85b7aedde9b3e6d0e46550
- 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
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.