Tex. Insurance Code § 861.701
REVOCATION OF CERTIFICATE
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 861.701, REVOCATION OF CERTIFICATE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679763
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Full text
(a) If, as a result of an examination under Section 861.257, the commissioner determines that a general casualty company has not complied with this chapter, the commissioner shall:
(1) revoke the company's certificate of authority; and
(2) notify the attorney general of the revocation.
(b) On receipt of notification under Subsection (a)(2), the attorney general shall request court appointment of a receiver for the general casualty company. Under the direction of the court, the receiver shall wind up the affairs of the company.