Appointment of Conservator

Sec. 441.151. APPOINTMENT OF CONSERVATOR. (a) The commissioner may appoint a conservator for an insurer: (1) if: (A) after notice and opportunity for hearing, it is determined that the insurer: (i) is insolvent; (ii) appears to have exceeded the insurer's powers; or (iii) has failed to comply with any requirement of the commissioner; or (B) the insurer agrees to the appointment of a conservator; and (2) if it is determined that supervision is inadequate to rehabilitate the insurer. (b) The commissioner may appoint a conservator. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.