Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 463.354: DEMAND TO CURE IMPAIRMENT.

Where this section sits in the code

INSURANCE CODE
TITLE 4. REGULATION OF SOLVENCY
SUBTITLE D. GUARANTY ASSOCIATIONS
CHAPTER 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION
SUBCHAPTER H. POWERS AND DUTIES OF COMMISSIONER AND DEPARTMENT

(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.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Collected 2026-08-27T01:47:21Z. Source file · JSON

Browse this collection