Insurance Code › Title 6 › Chapter 912 › Subchapter P

Texas Insurance Code § 912.751

Officer or Director Unworthy of Trust: Removal and Revocation of Certificate of Authority

County Mutual Insurance Companies · Disciplinary Action and Procedures in General

(a) After notice and hearing, the commissioner shall order the removal of an officer or director of a county mutual insurance company holding a certificate of authority if the officer or director is found unworthy of the trust or confidence of the public.

(b) If a county mutual insurance company does not remove an officer or director as required by an order issued under Subsection (a), the commissioner shall:

(1) revoke the company's certificate of authority; and

(2) treat the company as insolvent.

Official text of the Texas Insurance Code as published by the Texas Legislative Council.

Official source
Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.