Texas Insurance Code 842.301 – Revocation of Certificate of Authority
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Terms Used In Texas Insurance Code 842.301
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The commissioner shall revoke the certificate of authority of a group hospital service corporation that:
(1) is determined to be:
(A) operating fraudulently; or
(B) improperly contesting claims; or
(2) fails to pay valid claims in accordance with this chapter.