Texas § IN.886.702 - GROUNDS FOR DISSOLUTION OR FORFEITURE
Full text of Texas The Texas Constitution § IN.886.702 — GROUNDS FOR DISSOLUTION OR FORFEITURE, with citation guidance and answers to common questions.
§ IN.886.702. GROUNDS FOR DISSOLUTION OR FORFEITURE
GROUNDS FOR DISSOLUTION OR FORFEITURE. (a) In addition to any other penalties imposed on a local mutual aid association or on its members or officers, an association is subject to dissolution and forfeiture of its right to engage in the business of insurance if the association: (1) ceases to engage in the business of insurance; (2) falls below the requirements of this chapter; (3) engages in the business of insurance without a certificate of authority; (4) fails to make reports as required by law; (5) refuses to submit to examination by the department or pay the cost of an examination; (6) engages in the business of insurance in a fraudulent, illegal, or dishonest manner; or (7) violates this chapter. (b) The attorney general shall, at the request of the department, file any action necessary to wind up the affairs of an association to which Subsection (a) applies and provide for the appointment of a receiver if necessary. (c) An action under this section must be brought in Travis County. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.886.702
What does The Texas Constitution § IN.886.702 cover?
Section IN.886.702 ("GROUNDS FOR DISSOLUTION OR FORFEITURE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.886.702?
A common citation format is "The Texas Constitution § IN.886.702" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.886.702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.