| (a) Except as provided in §5.4307 of this title,
the association and an insurer must submit to the department for approval
any depopulation program that encourages the transfer of association
policies to insurers through the voluntary market. The submission
must include all necessary documents, including notices and policy
forms.
(b) The program must provide necessary protections
for the policyholders and policyholders' agents, including Insurance
Code §2210.704(b).
(c) An insurer and the association must not proceed
with the voluntary market depopulation program, and it is not effective
unless the commissioner approves the program in writing.
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