Texas Insurance Code 843.407 – Receivership and Delinquency Proceedings
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(a) In addition to all other remedies available by law, if the commissioner believes that a health maintenance organization or another person is insolvent or does not maintain the net worth required under Sections 843.403, 843.4031, and 843.404, the commissioner may bring an action in a Travis County district court to be named receiver in accordance with § 843.157 and Chapter 443.
(b) The court may:
(1) find that a receiver should take charge of the assets of the health maintenance organization; and
(2) name the commissioner as the receiver of the health maintenance organization in accordance with § 843.157 and Chapter 443.
Terms Used In Texas Insurance Code 843.407
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Venue: The geographical location in which a case is tried.
(c) The operations and business of a health maintenance organization represent the business of insurance for purposes of § 843.157 and Chapters 441 and 443.
(d) Exclusive venue of receivership and delinquency proceedings for a health maintenance organization is in Travis County.