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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
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Subtitle C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES |
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Chapter 843. HEALTH MAINTENANCE ORGANIZATIONS |
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Subchapter L. FINANCIAL REGULATION OF HEALTH MAINTENANCE ORGANIZATIONS |
Sec. 843.407. RECEIVERSHIP AND DELINQUENCY PROCEEDINGS
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(a) In addition to all other remedies available by law, if the commissioner believes that a health maintenance organization or another person is insolvent or does not maintain the net worth required under Sections 843.403, 843.4031, and 843.404, the commissioner may bring an action in a Travis County district court to be named receiver in accordance with Section 843.157 and Chapter 443.
(b) The court may:
(1) find that a receiver should take charge of the assets of the health maintenance organization; and
(2) name the commissioner as the receiver of the health maintenance organization in accordance with Section 843.157 and Chapter 443.
(c) The operations and business of a health maintenance organization represent the business of insurance for purposes of Section 843.157 and Chapters 441 and 443.
(d) Exclusive venue of receivership and delinquency proceedings for a health maintenance organization is in Travis County.