Texas Insurance Code 541.351 – Acceptance of Assurance
Current as of: 2024 | Check for updates
|
Other versions
(a) In administering this chapter, the department may accept assurance of voluntary compliance from a person who is engaging in, has engaged in, or is about to engage in an act or practice in violation of:
(1) this chapter or a rule adopted under this chapter; or
(2) § 17.46, Business & Commerce Code.
(b) The assurance must be in writing and be filed with the department.
Terms Used In Texas Insurance Code 541.351
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- 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
- Rule: includes regulation. See Texas Government Code 311.005
(c) The department may condition acceptance of an assurance of voluntary compliance on the stipulation that the person offering the assurance restore to a person in interest money that may have been acquired by the act or practice described in Subsection (a).