Sec. 830.012. ADMINISTRATIVE PENALTY. (a) An insurer that, without good cause, fails to timely file the summary report as required by this chapter commits a violation subject to an administrative penalty under Chapter 84.
(b) Each day the violation continues is a separate violation for purposes of this section.
(c) The commissioner may reduce the amount of the penalty assessed under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle B - Organization of Regulated Entities
Chapter 830 - Own Risk and Solvency Assessment
Section 830.001. Applicability and Purpose
Section 830.003. Risk Management Framework
Section 830.004. Own Risk and Solvency Assessment Requirement
Section 830.005. Summary Report Required
Section 830.007. Contents of Summary Report
Section 830.008. Confidentiality
Section 830.009. Agreement Concerning Confidential and Privileged Information
Section 830.010. Authority of Commissioner Not Affected