Texas Insurance Code
Sec. § 964.065
Suspension or Revocation of Certificate of Authority


The commissioner, after notice and an opportunity for hearing, may revoke or suspend the certificate of authority of a captive insurance company for:

(1)

insolvency or impairment of required capital or surplus, or the equivalent, to policyholders;

(2)

failure to submit an annual report, as required by Section 964.060 (Annual Report);

(3)

failure to comply with the provisions of its own charter, bylaws, rules, or other governing document;

(4)

failure to submit to examination, as required by Chapter 401 (Audits and Examinations);

(5)

failure to pay the cost of examination, as required by Chapter 401 (Audits and Examinations);

(6)

failure to pay any tax or fee required by this code;

(7)

removal of its principal office or books and records from this state without prior approval of the commissioner;

(8)

use of practices that render its operation detrimental to the public or its condition unsound; or

(9)

failure to otherwise comply with the laws of this state.
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. 1.15, eff. June 15, 2017.
Source
Last accessed
Jan. 28, 2020