If an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may enter an order prohibiting the company from writing new business and may:
(1) place the company under state supervision or conservatorship;
(2) declare the company to be in a hazardous condition as provided by Subchapter A, Chapter 404;
(3) declare the company to be impaired as provided by Subchapter B, Chapter 404; or
(4) apply to the company any other applicable sanction provided by this code.