Sec. 841.411. FORECLOSURE ON COLLATERAL. A limited purpose subsidiary life insurance company shall immediately notify the commissioner of any action by a ceding insurer or any other person to foreclose on, or otherwise take possession of, collateral provided by the limited purpose subsidiary life insurance company to secure an obligation of the company.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle C - Life, Health, and Accident Insurers and Related Entities
Chapter 841 - Life, Health, or Accident Insurance Companies
Subchapter I. Limited Purpose Subsidiary Life Insurance Companies
Section 841.403. Organizational Documents
Section 841.404. Certificate of Authority Required
Section 841.405. Application for Certificate of Authority
Section 841.406. Investment of Certain Surplus by Organizing Company
Section 841.407. Officers and Directors
Section 841.408. Issuance of Certificate of Authority
Section 841.409. Scope of Certificate of Authority
Section 841.410. Capital and Surplus
Section 841.411. Foreclosure on Collateral
Section 841.413. Permitted Reinsurance
Section 841.414. Reports on Reserves and Risk-Based Capital
Section 841.415. Other Laws Not Applicable
Section 841.416. Applicability of Other Law
Section 841.417. Guaranty Requirements
Section 841.418. Sunset Provision