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TITLE 28INSURANCE
PART 1TEXAS DEPARTMENT OF INSURANCE
CHAPTER 13MISCELLANEOUS INSURERS AND OTHER REGULATED ENTITIES
SUBCHAPTER DRISK RETENTION GROUPS AND PURCHASING GROUPS
RULE §13.309Sanctions

(a) If an entity holding a certificate of authority in Texas is doing business in Texas as a risk retention group, but violates any one of §§13.305, 13.306, 13.307, or 13.308 of this title (relating to Registration, Operation by Members Only, Providing Other Than Liability Insurance; or Requirement of Similar or Related Liability Exposure), the State Board of Insurance may revoke the certificate of authority or impose other sanctions under the Insurance Code, Article 1.10, §7.

(b) If a group, other than a group described in subsection (a) of this section, is doing business in Texas as a purchasing group or risk retention group, without the status of a purchasing group or risk retention group, the group is subject to the same actions that the State Board of Insurance may take against an unauthorized insurer, in addition to any other actions.


Source Note: The provisions of this §13.309 adopted to be effective March 8, 1991, 16 TexReg 1290.

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