Texas Insurance Code
Sec. § 964.058
Examination by Commissioner


(a)

After the application and application fee for a certificate of authority under Section 964.057 (Application for Certificate of Authority) are filed with the department and the applicant has complied with all legal requirements, the commissioner shall conduct an examination of the applicant to determine whether:

(1)

the minimum capital and surplus, or the equivalent, requirements of Section 964.056 (Capital and Surplus or Equivalent Requirements) are satisfied;

(2)

the capital and surplus, or the equivalent, are the bona fide property of the applicant; and

(3)

the applicant has fully complied with applicable insurance laws.

(b)

The commissioner may appoint a competent and disinterested person to conduct the examination required by this section. The examiner shall file an affidavit of the examiner’s findings with the commissioner. The commissioner shall record the affidavit.
Added by Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 2, eff. June 14, 2013.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.08, eff. June 15, 2017.
Source
Last accessed
Aug. 10, 2020