Sec. 984.204. AUTHORITY TO REVOKE OR SUSPEND CERTIFICATE OF AUTHORITY. The commissioner may revoke or suspend a Mexican casualty insurance company's certificate of authority under this chapter if the commissioner, after notice and an opportunity for a hearing, determines that the company, with neglect and wilful disregard, systematically failed to comply with obligations derived from insurance policies issued in this state and the laws applicable to those policies.
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 I - Surplus Lines Insurers; Companies Not Organized in Texas
Chapter 984 - Mexican Casualty Insurance Companies
Subchapter E. Regulation and Enforcement
Section 984.201. Agreement to Comply With Chapter
Section 984.202. Annual Statement
Section 984.203. Authority to Conduct Examination
Section 984.204. Authority to Revoke or Suspend Certificate of Authority