Sec. 827.003. WITHDRAWAL PLAN REQUIRED. An insurer shall file with the commissioner a plan for orderly withdrawal if the insurer proposes to:
(1) reduce the insurer's total annual premium volume by 50 percent or more;
(2) reduce the insurer's annual premium by 75 percent or more in a line of insurance in this state; or
(3) reduce in this state, or in any applicable rating territory, the insurer's total annual premium volume in a line of personal automobile or residential property insurance by 50 percent or more.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 206, Sec. 10.03, eff. June 11, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Chapter 827 - Withdrawal and Restriction Plans
Section 827.003. Withdrawal Plan Required
Section 827.004. Provisions of Withdrawal Plan
Section 827.005. Approval of Withdrawal Plan
Section 827.006. Resumption of Writing Insurance After Complete Withdrawal
Section 827.008. Restriction Plan