SECTION 5.9414. Termination of MAP

(a) The Executive Committee may recommend termination of the MAP to the Commissioner, but not earlier than 48 months following the commencement date of the initial plan of operation. Such recommendation shall be made in writing to the Commissioner and supported by findings as to why the MAP should be terminated and must be approved by at least two-thirds of the members of the Executive Committee.

(b) Pursuant to Article 21.49-12 §6(b) of the Insurance Code, the MAP shall be terminated only upon approval of the Commissioner, but in no event earlier than 48 months following the commencement date of the initial plan of operation. Such termination by the Commissioner may be made only after notice and hearing.

Source Note: The provisions of this §5.9414 adopted to be effective October 1, 1996, 21 TexReg 8715; transferred effective April 16, 1999, 24 TexReg 3092.