Texas § 426.003 MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE.

Texas Statutes

§ 426.003 — MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE.

Texas § 426.003

Code INInsurance Code

This text of Texas § 426.003 (MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 426.003 (2026).

Text

Sec. 426.003. MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE.

(a)If a workers' compensation insurance company's reserves are determined under this chapter to be:

(1)inadequate, the commissioner shall notify the company and require the company to establish and maintain reasonable additional reserves; or

(2)unreasonably large, the commissioner shall notify the company and require the company to reduce the amount of reserves to a reasonable amount.

(b)Not later than the 60th day after the date of notification of noncompliance under Subsection (a), the company shall:

(1)restore compliance as required by Subsection (a); and

(2)file a statement of restored compliance, accompanied by any documentation required by the commissioner.

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Sec. 426.003. MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE. (a) If a workers' compensation insurance company's reserves are determined under this chapter to be:
(1) inadequate, the commissioner shall notify the company and require the company to establish and maintain reasonable additional reserves; or
(2) unreasonably large, the commissioner shall notify the company and require the company to reduce the amount of reserves to a reasonable amount.
(b) Not later than the 60th day after the date of notification of noncompliance under Subsection (a), the company shall:
(1) restore compliance as required by Subsection (a); and
(2) file a statement of restored compliance, accompanied by any documentation required by the commissioner.

Legislative History

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.

Nearby Sections

3

§ 426.001

RESERVES REQUIRED.

§ 426.002

COMPUTATION OF RESERVES.

§ 426.003

MAINTENANCE OF RESERVES; NOTICE OF NONCOMPLIANCE.

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Bluebook (online)

Texas § 426.003, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/IN/426.003.