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Tex. Insurance Code § 426.003

MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 426.003, MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677630
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(a) If a workers' compensation insurance company's reserves are determined under this chapter to be: (1) inadequate, the commissioner shall notify the company and require the company to establish and maintain reasonable additional reserves; or (2) unreasonably large, the commissioner shall notify the company and require the company to reduce the amount of reserves to a reasonable amount. (b) Not later than the 60th day after the date of notification of noncompliance under Subsection (a), the company shall: (1) restore compliance as required by Subsection (a); and (2) file a statement of restored compliance, accompanied by any documentation required by the commissioner.