Texas Insurance Code 843.056 – Inapplicability of Bankruptcy Law
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Terms Used In Texas Insurance Code 843.056
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
By applying for and receiving a certificate of authority to engage in business in this state, a health maintenance organization agrees and admits that it is not subject to and is not eligible to proceed under the United States Bankruptcy Code.