Tex. Ins. Code Section 426.003
Maintenance of Reserves; Notice of Noncompliance

(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.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 426.003 — Maintenance of Reserves; Notice of Noncompliance, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­426.­htm#426.­003 (accessed Jun. 5, 2024).

Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 426.003’s source at texas​.gov