Texas § 861.701 REVOCATION OF CERTIFICATE.

Texas Statutes

§ 861.701 — REVOCATION OF CERTIFICATE.

Texas § 861.701

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 861.701 (2026).

Text

Sec. 861.701. REVOCATION OF CERTIFICATE.

(a)If, as a result of an examination under Section 861.257 , the commissioner determines that a general casualty company has not complied with this chapter, the commissioner shall:

(1)revoke the company's certificate of authority; and

(2)notify the attorney general of the revocation.

(b)On receipt of notification under Subsection (a)(2), the attorney general shall request court appointment of a receiver for the general casualty company. Under the direction of the court, the receiver shall wind up the affairs of the company.

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Sec. 861.701. REVOCATION OF CERTIFICATE. (a) If, as a result of an examination under Section 861.257 , the commissioner determines that a general casualty company has not complied with this chapter, the commissioner shall:
(1) revoke the company's certificate of authority; and
(2) notify the attorney general of the revocation.
(b) On receipt of notification under Subsection (a)(2), the attorney general shall request court appointment of a receiver for the general casualty company. Under the direction of the court, the receiver shall wind up the affairs of the company.