Exams / Texas Life Insurance License / Tex. Ins. Code §463.353
Tex. Ins. Code §463.353 — what it says, and how the exam tests it
This section is cited by 3 of our practice questions and is tested on 3 exams including the Texas Life Insurance License.
The text
Sec. 463.353. EXAMINATION. (a) The board by majority vote may request the commissioner to order an examination of a member insurer that the board in good faith believes may be impaired or insolvent. The commissioner shall keep the request on file. The request is open for public inspection before release of the examination report to the public. (b) Not later than the 30th day after the date the commissioner receives the request, the commissioner shall begin the examination. The examination may be conducted: (1) as a National Association of Insurance Commissioners examination; or (2) by a person the commissioner designates. (c) The association shall pay the cost of the examination. (d) The commissioner shall notify the board when the examination is completed. The examination report shall be treated in the same manner as other examination reports. The report may not be released to the board before the report is released to the public, except that the commissioner may comply with Section 463.351. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Public record. Read the full, current section at the official source: tcss.legis.texas.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Texas Insurance Code §463.353, within how many days after receiving a request from the board must the commissioner begin an examination of a member insurer believed to be impaired or insolvent?
drill Texas Statutes and Rules Common to Property and Casualty Insurance → - Under Section 463.353, within what time frame must the commissioner begin an examination after receiving a request from the guaranty association board?
drill Texas Statutes and Rules Common to Property and Casualty Insurance → - Under Tex. Ins. Code §463.353, how soon after receiving the board's request must the commissioner begin the examination of a member insurer believed to be impaired or insolvent?
drill Texas Statutes and Rules Common to Life and Health Insurance →