Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 10. PROPERTY AND CASUALTY INSURANCE |
Subtitle G. POOLS, GROUPS, PLANS, AND SELF-INSURANCE |
Chapter 2201. RISK RETENTION GROUPS AND PURCHASING GROUPS |
Subchapter D. RISK RETENTION GROUPS NOT CHARTERED IN THIS STATE |
Sec. 2201.158. INJUNCTIVE RELIEF
Latest version.
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(a) A risk retention group not chartered in this state must comply with the terms of an injunction issued by a court of this state or any other state based on a finding that the group is in a hazardous financial condition or is financially impaired.
(b) Injunctive relief must be issued by a court if the commissioner seeks to enjoin a risk retention group not chartered in this state from:
(1) violating the law of this state prohibiting deceptive, false, or fraudulent acts or practices;
(2) soliciting or selling insurance to a person who is not eligible for membership in the group; or
(3) soliciting or selling insurance or operating when the group is in a hazardous financial condition or is financially impaired.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 2, eff. April 1, 2007.