Tex. Ins. Code Section 441.302
Forfeiture and Cancellation of Charter on Conclusion of Business

(a)

Once all an insurer’s policies are reinsured or terminated and the insurer’s affairs are concluded as provided by this chapter, the commissioner shall report that fact to the attorney general. On receipt of the report, the attorney general shall take action necessary to forfeit or cancel the insurer’s charter.

(b)

The commissioner shall report to the attorney general the commissioner’s approval of the merger or consolidation of an insurer with another insurer or the reinsurance of the insurer’s policies. On receipt of the report, the attorney general shall take action to forfeit or cancel the insurer’s charter in the manner provided for the forfeiture or cancellation of the charter of an insurer that is totally reinsured or liquidated.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 441.302 — Forfeiture and Cancellation of Charter on Conclusion of Business, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­441.­htm#441.­302 (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
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 441.302’s source at texas​.gov