Tex. Ins. Code § 912.751

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 912.751 - Officer or Director Unworthy of Trust: Removal and Revocation of Certificate of Authority
(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.

Tex. Ins. Code § 912.751

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.