Sec. 861.256. FAILURE TO MAKE DEPOSIT OR DELIVER ANNUAL STATEMENT. (a) If a general casualty company fails to make a deposit under Section 861. 252 or to deliver an annual statement under Section 861.254 in a timely manner, the department shall notify the company that the company may not issue new insurance until the deposit is made or the statement is delivered to the department.
(b) A general casualty company may not issue an insurance policy in violation of this section.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle D - Casualty Companies
Chapter 861 - General Casualty Companies
Subchapter F. Regulation of General Casualty Company
Section 861.251. Minimum Capital and Surplus
Section 861.252. Security Deposit
Section 861.253. Interest on Security Deposits
Section 861.254. Annual Statement; Filing Fee
Section 861.255. Rules Regarding Certain Assets
Section 861.256. Failure to Make Deposit or Deliver Annual Statement