Texas § OC.1702.123 - INSURANCE
Full text of Texas The Texas Constitution § OC.1702.123 — INSURANCE, with citation guidance and answers to common questions.
§ OC.1702.123. INSURANCE
INSURANCE; BOND. (a) A company license holder shall maintain on file with the department at all times the surety bond and certificate of insurance required by this chapter. (b) The commission shall immediately suspend the company license of a company license holder who violates Subsection (a). (c) The commission may rescind the company license suspension if the company license holder provides proof to the commission that the bond or the insurance coverage is still in effect. The company license holder must provide the proof in a form satisfactory to the commission not later than the 10th day after the date the company license is suspended. (d) After suspension of the company license, the commission may not reinstate the company license until an application, in the form prescribed by the commission, is filed accompanied by a proper bond, insurance certificate, or both. The commission may deny the application notwithstanding the applicant's compliance with this section: (1) for a reason that would justify suspending, revoking, or denying a company license; or (2) if, during the suspension, the applicant performs a practice for which a company license is required. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 14.603, eff. Sept. 1, 2001. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1146 (H.B. 2730 ), Sec. 4.44, eff. September 1, 2009. Acts 2019, 86th Leg., R.S., Ch. 595 (S.B. 616 ), Sec. 5.042, eff. September 1, 2019.
Frequently Asked Questions About Texas § OC.1702.123
What does The Texas Constitution § OC.1702.123 cover?
Section OC.1702.123 ("INSURANCE") 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 § OC.1702.123?
A common citation format is "The Texas Constitution § OC.1702.123" (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 § OC.1702.123 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.