Texas Insurance Code 543.051 – Suspension or Revocation of Certificate, Charter, Permit, or License
Current as of: 2024 | Check for updates
|
Other versions
(a) On a hearing, the commissioner may suspend or revoke the certificate, charter, permit, or license to engage in the business of insurance of A society, association, corporation, or person that violates Subchapter A.
(b) The commissioner must give 10 days’ notice of the hearing by certified mail to the society, association, corporation, or person.
Terms Used In Texas Insurance Code 543.051
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005