Tex. Ins. Code § 841.703 · Subchapter O. ENFORCEMENT AND INTERVENTION
CERTIFICATE OF AUTHORITY VOID ON FAILURE TO SATISFY JUDGMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If an officer holding an execution issued on a final judgment rendered against an insurance company demands payment of the judgment from an officer or attorney of record of the company and the company does not fully satisfy the judgment before the 31st day after the date the demand is made, the officer shall certify the demand and failure to the commissioner, regardless of whether the demand is made in this state.
(b) On receipt of a certification under Subsection (a), the commissioner shall declare void the certificate of authority issued to the company under this chapter.
(c) An insurance company whose certificate of authority is declared void under this section may not engage in the business of insurance in this state until:
(1) the judgment is fully satisfied and discharged; and
(2) the commissioner renews the company's certificate of authority.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm
- Text hash
- sha256 231abb8fa73acade079ba0bb269bc87a632c4d83cb1abc76db32a400440bc0b1
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 841.703. Each shows the citation as that text prints it.
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.