Texas Statutes
Subchapter B. Captive Insurance Companies
Section 964.065. Suspension or Revocation of Certificate of Authority

Sec. 964.065. SUSPENSION OR REVOCATION OF CERTIFICATE OF AUTHORITY. The commissioner, after notice and an opportunity for hearing, may revoke or suspend the certificate of authority of a captive insurance company for:
(1) insolvency or impairment of required capital or surplus, or the equivalent, to policyholders;
(2) failure to submit an annual report, as required by Section 964.060;
(3) failure to comply with the provisions of its own charter, bylaws, rules, or other governing document;
(4) failure to submit to examination, as required by Chapter 401;
(5) failure to pay the cost of examination, as required by Chapter 401;
(6) failure to pay any tax or fee required by this code;
(7) removal of its principal office or books and records from this state without prior approval of the commissioner;
(8) use of practices that render its operation detrimental to the public or its condition unsound; or
(9) failure to otherwise comply with the laws of this state.
Added by Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 2, eff. June 14, 2013.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 1050 (H.B. 1944), Sec. 1.15, eff. June 15, 2017.

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