Tex.
Ins. Code Section 4151.301
Grounds for Denial, Suspension, or Revocation of Certificate of Authority
(1)
has wilfully violated an insurance law of this state;(2)
has intentionally made a material misstatement in the application for a certificate of authority;(3)
has obtained or attempted to obtain a certificate of authority by fraud or misrepresentation;(4)
has misappropriated, converted to the applicant’s or holder’s own use, or illegally withheld money belonging to:(A)
an insurance carrier, as that term is defined by Section 401.011 (General Definitions), Labor Code;(B)
an insurer, as that term is defined by Section 4001.003 (Definitions);(C)
a health maintenance organization; or(D)
an insured, enrollee, injured employee, or beneficiary;(5)
has engaged in fraudulent or dishonest acts or practices;(6)
has materially misrepresented the terms and conditions of an insurance policy, certificate, evidence of coverage, or contract;(7)
has been convicted of a felony;(8)
is in a financial condition, or is operating or conducting business in a manner, that would render further transaction of business in this state hazardous or injurious to insured persons or the public;(9)
has failed to comply with any judgment rendered against the applicant or holder before the 60th day after the date on which the judgment becomes final;(10)
has wilfully violated a commissioner rule;(11)
has refused to be examined or to produce accounts, records, and files for examination as required by this chapter or commissioner rule;(12)
at any time fails to meet a qualification for which issuance of the certificate of authority could have been denied had the failure then existed and been known to the commissioner;(13)
has had a certificate of authority, license, or other authority issued by this state, another state, or the United States suspended or revoked; or(14)
has failed to timely file the annual report required by Section 4151.205 (Annual Report).
Source:
Section 4151.301 — Grounds for Denial, Suspension, or Revocation of Certificate of Authority, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4151.htm#4151.301 (accessed Jun. 5, 2024).
