§ 846.058 — DISQUALIFICATION.

Texas § 846.058

• Jurisdiction: Texas
• Code IN: Insurance Code

Text

Sec. 846.058. DISQUALIFICATION. (a) A multiple employer welfare arrangement, each board member and officer of the arrangement, and any agent or other person associated with the arrangement shall be subject to disqualification for eligibility for a certificate of authority if the person:
(1) makes a material misstatement or omission in an application for a certificate of authority under this chapter;
(2) obtains or attempts to obtain at any time a certificate of authority or license for an insurance entity through intentional misrepresentation or fraud;
(3) misappropriates or converts to the person's own use or improperly withholds money under an employee welfare benefit plan or multiple employer welfare arrangement;
(4) is prohibited from serving in any capacity with the arrangement under Section 411, Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1111);
(5) without reasonable cause or excuse, fails to appear in response to a subpoena, examination, warrant, or any other order lawfully issued by the commissioner; or
(6) has previously been subject to a determination by the commissioner resulting in:
(A) suspension or revocation of a certificate of authority or license; or
(B) denial of a certificate of authority or license on grounds that would be sufficient for suspension or revocation.
(b) This section does not apply to a participating employer in its capacity as a participating employer and the employer's participating employees.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.