Texas § 463.354 DEMAND TO CURE IMPAIRMENT.

Texas Statutes

§ 463.354 — DEMAND TO CURE IMPAIRMENT.

Texas § 463.354

Code INInsurance Code

This text of Texas § 463.354 (DEMAND TO CURE IMPAIRMENT.) 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. § 463.354 (2026).

Text

Sec. 463.354. DEMAND TO CURE IMPAIRMENT.

(a)When an impairment is declared and the amount of the impairment is determined, the commissioner shall serve a demand on the impaired insurer to cure the impairment within a reasonable time.

(b)Notice of the demand under Subsection (a) to the impaired insurer constitutes notice to any shareholders of the insurer.

(c)Failure of the impaired insurer to comply promptly with the demand does not excuse the association from exercising the association's powers and performing the association's duties under this chapter.

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Sec. 463.354. DEMAND TO CURE IMPAIRMENT. (a) When an impairment is declared and the amount of the impairment is determined, the commissioner shall serve a demand on the impaired insurer to cure the impairment within a reasonable time.
(b) Notice of the demand under Subsection (a) to the impaired insurer constitutes notice to any shareholders of the insurer.
(c) Failure of the impaired insurer to comply promptly with the demand does not excuse the association from exercising the association's powers and performing the association's duties under this chapter.