Tex. Ins. Code § 404.006

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 404.006 - Agreement With Another Jurisdiction

The commissioner may enter into an agreement with the insurance regulatory authority of another jurisdiction concerning the management, volume of business, expenses of operation, plans for reinsurance, rehabilitation, or reorganization, and method of operations of, and type of risks to be insured by, an insurer that is:

(1) licensed in the other jurisdiction; and

(2) considered to be in a hazardous financial condition or in need of a specific remedy that may be imposed by the commissioner and the insurance regulatory authority of the other jurisdiction.

Tex. Ins. Code § 404.006

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.