Sec. 441.006. RULES AND PROCEDURES FOR MERGER OF INSURERS. (a) The commissioner shall adopt rules that encourage the merger of insurers in weak financial condition with insurers in strong financial condition in cases in which rehabilitation or conservation of an insurer would be inefficient or impracticable.
(b) The rules and procedures for conservatorship may not be used unless the rules and procedures adopted to promote the merger of insurers in weak financial condition are followed.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle C - Delinquent Insurers
Chapter 441 - Supervision and Conservatorship
Subchapter A. General Provisions
Section 441.001. Findings and Purpose
Section 441.003. Applicability of and Compliance With Chapter
Section 441.004. Actions of Commissioner
Section 441.005. Rules; Authority for Administrative Action
Section 441.006. Rules and Procedures for Merger of Insurers
Section 441.007. Conflict With Other Laws
Section 441.008. Inapplicability of Certain Administrative Procedure Provisions