SECTION 5.9980. Financial Conditions

(a) The following financial conditions may require an insurer to file with the department for the commissioner's approval all rates, supplementary rating information, and any supporting information:

(1) a finding by the commissioner that an insurer is in a hazardous financial condition under Insurance Code Chapter 404 and §8.3 of this title (relating to Hazardous Conditions and remedy of Hazardous Conditions);

(2) an insurer has been placed in supervision or conservatorship under Insurance Code Chapter 441;

(3) an insurer has been seized or placed in rehabilitation or receivership under Insurance Code Chapter 443; or

(4) an insurer has been required to make a special deposit with the comptroller under Insurance Code Chapter 406.

(b) An insurer subject to this section must continue to file all rates, supplementary rating information, and any supporting information until the commissioner issues an order finding that the financial condition that subjected the insurer to this section no longer exists.

Source Note: The provisions of this §5.9980 adopted to be effective December 10, 2013, 38 TexReg 8904