Texas § IN.4007.002 - NOTICE TO DEPARTMENT REQUIRED
Full text of Texas The Texas Constitution § IN.4007.002 — NOTICE TO DEPARTMENT REQUIRED, with citation guidance and answers to common questions.
§ IN.4007.002. NOTICE TO DEPARTMENT REQUIRED
NOTICE TO DEPARTMENT REQUIRED. (a) On forms prescribed by the commissioner, an insurance company shall notify the department not later than the 30th day after the date on which: (1) balances due from an insurance agent for more than 90 days exceed $1 million or 10 percent of the company's policyholder surplus computed on December 31 of the preceding year or the most recent quarter if a report is specifically required by the department; (2) an agent's authority to settle claims for the company is withdrawn; or (3) the contract with an agent is canceled or terminated. (b) An insurance company may comply with the notification requirement of Subsection (a)(1) by submitting a single annual report if: (1) the company routinely operates above the limit established by Subsection (a)(1); and (2) the commissioner verifies that fact under a procedure adopted by the commissioner. Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 1I.001, eff. April 1, 2009.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.4007.002
What does The Texas Constitution § IN.4007.002 cover?
Section IN.4007.002 ("NOTICE TO DEPARTMENT REQUIRED") 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.4007.002?
A common citation format is "The Texas Constitution § IN.4007.002" (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.4007.002 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.