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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 11. TITLE INSURANCE |
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Subtitle C. FINANCIAL SOLVENCY |
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Chapter 2602. TEXAS TITLE INSURANCE GUARANTY ASSOCIATION |
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Subchapter C. GENERAL POWERS AND DUTIES OF ASSOCIATION |
Sec. 2602.114. MEETING OF BOARD ON IMPAIRED TITLE INSURANCE COMPANY OR AGENT
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(a) The commissioner:
(1) shall call a meeting of the board when the commissioner determines that a title insurance company or agent is insolvent or impaired; and
(2) may call a meeting of the board when the commissioner determines that a title insurance company or agent is in danger of becoming insolvent or impaired.
(b) The meeting is not open to the public. Only board members, the commissioner, and persons the commissioner authorizes may attend the meeting.
(c) The commissioner may require an officer, director, or employee of the title insurance company or agent to appear before the board for conference or to give testimony.
(d) At the meeting the commissioner may disclose to the board information that the commissioner possesses and may disclose department records, including an examination report or a preliminary report from an examiner that relates to the title insurance company or agent.
(e) A board member may not disclose information received in the meeting unless authorized by the commissioner or required as witness in court. A board member and the meeting are subject to the confidentiality standard imposed on an examiner under Sections 401.105 and 401.106, except that a bond is not required of a board member.