Texas Insurance Code 401.060 – Right to Information Relating to Determination of Value or Market Value
Current as of: 2024 | Check for updates
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(a) If the department determines the value or market value of an insurer’s investment in or on real estate or an improvement to real estate, the insurer is entitled to make a written request for a written finding by the commissioner in relation to that determination.
(b) Not later than the 10th day after the date the commissioner receives a request under Subsection (a), the commissioner shall enter a written order or finding that:
(1) states separately the department’s findings on each factor or matter on which the department relied in making the determination; and
(2) includes the name and address of each person who provided evidence relating to a factor or matter on which the department relied in making the determination.
Terms Used In Texas Insurance Code 401.060
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) The commissioner shall provide to the insurer that requested a written finding under this section a copy of the finding or order.