Tex. Ins. Code § 886.702 · Subchapter O. DISCIPLINARY PROCEDURES AND CRIMINAL PENALTY
GROUNDS FOR DISSOLUTION OR FORFEITURE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In addition to any other penalties imposed on a local mutual aid association or on its members or officers, an association is subject to dissolution and forfeiture of its right to engage in the business of insurance if the association:
(1) ceases to engage in the business of insurance;
(2) falls below the requirements of this chapter;
(3) engages in the business of insurance without a certificate of authority;
(4) fails to make reports as required by law;
(5) refuses to submit to examination by the department or pay the cost of an examination;
(6) engages in the business of insurance in a fraudulent, illegal, or dishonest manner; or
(7) violates this chapter.
(b) The attorney general shall, at the request of the department, file any action necessary to wind up the affairs of an association to which Subsection (a) applies and provide for the appointment of a receiver if necessary.
(c) An action under this section must be brought in Travis County.
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.886.htm
- Text hash
- sha256 fc5bae144332aef88300ca8bc069ba3f4f30556a4f8d03fd4403e9bf408603e6
- 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.