Tex.
Ins. Code Section 83.051
Authority of Commissioner to Issue Order
(a)
The commissioner ex parte may issue an emergency cease and desist order if:(1)
the commissioner believes that:(A)
an authorized person engaging in the business of insurance is:(i)
committing an unfair act; or(ii)
in a hazardous condition or a hazardous financial condition under Section 843.406 (Hazardous Financial Condition) or Subchapter A (Definition), Chapter 404 (Financial Condition), as determined by the commissioner; or(B)
an unauthorized person:(i)
is engaging in the business of insurance in violation of Chapter 101 (Unauthorized Insurance) or in violation of a rule adopted under that chapter; and(ii)
does not meet a statutory exception or exemption; and(2)
with respect to conduct described by Subdivision (1)(A), it appears to the commissioner that the alleged conduct:(A)
is fraudulent;(B)
is hazardous or creates an immediate danger to the public safety; or(C)
is causing or can be reasonably expected to cause public injury that:(i)
is likely to occur at any moment;(ii)
is incapable of being repaired or rectified; and(iii)
has or is likely to have influence or effect.(b)
An order is final on the 61st day after the date it is served, unless the affected person requests a hearing under Section 83.053 (Request for Hearing).
Source:
Section 83.051 — Authority of Commissioner to Issue Order, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.83.htm#83.051 (accessed Apr. 29, 2024).
