Tex. Insurance Code § 441.104
PROHIBITED ACTS DURING SUPERVISION
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 441.104, PROHIBITED ACTS DURING SUPERVISION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677660
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Full text
During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor:
(1) disposing of, conveying, or encumbering any of the insurer's assets or business in force;
(2) withdrawing money from the insurer's bank accounts;
(3) lending or investing the insurer's money;
(4) transferring the insurer's property;
(5) incurring a debt, obligation, or liability;
(6) merging or consolidating with another company;
(7) entering into a new reinsurance contract or treaty;
(8) terminating, surrendering, forfeiting, converting, or lapsing an insurance policy, except for nonpayment of premiums due; or
(9) releasing, paying, or refunding premium deposits, accrued cash or loan values, unearned premiums, or other reserves on an insurance policy.