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 (H.B. 2017), 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 (H.B. 2017), 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 (H.B. 2017), 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 (H.B. 2017), Sec. 12, eff. April 1, 2007.