Section 964.065 - Suspension or Revocation of Certificate of Authority The commissioner, after notice and an opportunity for hearing, may revoke or suspend the certificate of authority of a captive insurance company for:
(1) insolvency or impairment of required capital or surplus, or the equivalent, to policyholders;(2) failure to submit an annual report, as required by Section 964.060;(3) failure to comply with the provisions of its own charter, bylaws, rules, or other governing document;(4) failure to submit to examination, as required by Chapter 401;(5) failure to pay the cost of examination, as required by Chapter 401;(6) failure to pay any tax or fee required by this code;(7) removal of its principal office or books and records from this state without prior approval of the commissioner;(8) use of practices that render its operation detrimental to the public or its condition unsound; or(9) failure to otherwise comply with the laws of this state.Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 1050,Sec. 1.15, eff. 6/15/2017.Added by Acts 2013, 83rd Leg. - Regular Session, ch. 569,Sec. 2, eff. 6/14/2013.