Tex. Insurance Code § 463.354
DEMAND TO CURE IMPAIRMENT
Texas · Texas Insurance Code · Status: effective
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- Tex. Insurance Code § 463.354, DEMAND TO CURE IMPAIRMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677965
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Full text
(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.