Section 441.104 - Prohibited Acts During Supervision During supervision, the commissioner may prohibit the insurer from taking any of the following actions without the prior approval of the commissioner or supervisor:
(1) disposing of, conveying, or encumbering any of the insurer's assets or business in force;(2) withdrawing money from the insurer's bank accounts;(3) lending or investing the insurer's money;(4) transferring the insurer's property;(5) incurring a debt, obligation, or liability;(6) merging or consolidating with another company;(7) entering into a new reinsurance contract or treaty;(8) terminating, surrendering, forfeiting, converting, or lapsing an insurance policy, except for nonpayment of premiums due; or(9) releasing, paying, or refunding premium deposits, accrued cash or loan values, unearned premiums, or other reserves on an insurance policy.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.