Texas Insurance Code 823.012 – Rules; Procedures for Considering Certain Distributions
Current as of: 2024 | Check for updates
|
Other versions
(a) The commissioner may, after notice and opportunity for all interested persons to be heard, adopt rules and issue orders to implement this chapter, including the conducting of business and proceedings under this chapter.
(b) The commissioner by rule shall establish procedures to:
(1) promptly consider the prepayment notices reported under § 823.053(b);
(2) annually review each reported ordinary dividend paid within the 12 months preceding the date of the report; and
(3) take appropriate actions authorized by this code.
Terms Used In Texas Insurance Code 823.012
- Rule: includes regulation. See Texas Government Code 311.005
(c) A procedure established under Subsection (b)(1) must include consideration of the factors provided by § 823.008.
(d) A rule or order under this section must be consistent with this chapter.