Tex. Ins. Code Section 441.253
Powers and Duties of Ancillary Supervisor or Conservator

(a)

An ancillary supervisor or ancillary conservator appointed under this subchapter has all the powers provided by Sections 441.153 (Powers and Duties of Conservator) and 441.155 (Reinsurance During Conservatorship) with respect to the insurer’s assets, property, books, and records located in this state.

(b)

An ancillary conservator appointed under this subchapter may:

(1)

reinsure all or part of the insurer’s policies or certificates in this state with a solvent insurer authorized to engage in business in this state; and

(2)

transfer to the reinsurer as reserves any assets in the ancillary conservator’s possession in an amount sufficient to reinsure the policies or certificates.

(c)

A transfer of assets under this section is not considered a preference of a creditor.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 441.253 — Powers and Duties of Ancillary Supervisor or Conservator, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­441.­htm#441.­253 (accessed Jun. 5, 2024).

441.001
Findings and Purpose 441.002
Definition 441.003
Applicability of and Compliance with Chapter 441.004
Actions of Commissioner 441.005
Rules 441.006
Rules and Procedures for Merger of Insurers 441.007
Conflict with Other Laws 441.008
Inapplicability of Certain Administrative Procedure Provisions 441.051
Circumstances Constituting Insolvency or Delinquency 441.052
Circumstances Constituting Insurer Exceeding Powers 441.053
Notice to Insurer 441.101
Appointment of Supervisor 441.102
Time for Compliance with Requirements of Supervision 441.103
Payment of Claims 441.104
Prohibited Acts During Supervision 441.105
Hearing on Supervision 441.151
Appointment of Conservator 441.152
Notice of Conservatorship 441.153
Powers and Duties of Conservator 441.154
Payment of Claims 441.155
Reinsurance During Conservatorship 441.156
Hearings During Conservatorship 441.157
Immunity 441.158
Venue 441.159
Duration of Conservatorship 441.160
Return to Management 441.201
Confidentiality 441.202
Costs of Supervision and Conservatorship 441.203
Collection of Fees from Rehabilitated Insurer 441.204
Review and Stay of Certain Acts of Supervisor or Conservator 441.205
Appeal of Certain Orders 441.206
Ex Parte Meeting with Commissioner 441.207
Insurer Employees During Supervision or Conservatorship 441.251
Applicability 441.252
Appointment of Ancillary Supervisor or Conservator 441.253
Powers and Duties of Ancillary Supervisor or Conservator 441.254
Failure to Comply with Requirements of Supervision 441.255
Referral for Remedial Action 441.301
Remedial Action by Attorney General 441.302
Forfeiture and Cancellation of Charter on Conclusion of Business 441.351
Agents of Record
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Accessed:
Jun. 5, 2024

§ 441.253’s source at texas​.gov