Texas Insurance Code 441.254 – Failure to Comply With Requirements of Supervision
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Terms Used In Texas Insurance Code 441.254
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
The failure of an insurer described by Section 441.251 to comply during supervision with the requirements of Section 441.104 with respect to any asset or policy located in this state is grounds for the immediate revocation of the insurer’s certificate of authority to engage in business in this state and for the immediate appointment of an ancillary conservator to take charge of the insurer’s assets located in this state.