Journal of the House of Representatives of the Regular Session of the Sixtieth Legislature of the State of Texas, Volume 1 Page: 1,917
1946 p. ; 23 cm.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
May , 197 HOSE JURNA 191
holders located within this State with
some solvent insurance company au-
thorized to transact business in this
State and may transfer to the rein-
suring company, as reserve funds, as-
sets or any portion thereof in his
possession as may be required to con-
summate the reinsurance of such poli-
cies and any of such assets transfer-
red as reserve funds shall not be
deemed a preference of creditors.
"Section 7. Review And Stay Of
Action. During the period of super-
vision and during the period of con-
servatorship, the insurance company
may request the Commissioner of In-
surance or in his absence, the duly
appointed Deputy for such purpose,
to review an action taken or pro-
posed to be taken by the Supervisor
or Conservator, specifying wherein
the action complained of is believed
not to be in the best interests of the
insurance company, and such request
shall stay the action specified pend-
ing review of such action by the Com-
missioner or his duly appointed Depu-
ty. Any order entered by the Com-
missioner appointing a Supervisor
and providing that the insurance com-
pany shall not do certain acts as pro-
vided in Section 4 of this Article, any
order entered by the Commissioner
appointing a Conservator, and any
order by the Commissioner following
the review of an action of the Super-
visor or Conservator as hereinabove
provided shall be immediately re-
viewed by the State Board of Insur-
ance upon the filing of an appeal by
the insurance company. The Board
shall review the action complained of
in a public hearing and render its
decision at the earliest possible date
thereafter, and the requirement of
ten (10) days notice set out in Arti-
cle 1.04(d) of this Code may be
waived by the parties of record. The
Board may stay the effectiveness of
any order of the Commissioner, pend-
ing its review of such order. Such
appeal shall have precedence over all
other business of a different nature
pending before the Board, and in the
public hearing any and all evidence
and matters pertaining to the appeal
may be submitted to the Board, whe-
ther included in the appeal or nrt,
and the Board shall make such other
rules and regulations with regard to
such applications and their consider-
ation as it deems advisable. If such
insurance company be dissatisfiedwith any decision, regulation, order,
rule, act or administrative ruling
adopted by the State Board of Insur-
ance, such dissatisfied insurance com-
pany after failing to get relief from
the State Board of Insurance, may
file a petition setting forth the par-
ticular objection to such decision, reg-
ulation, order, rule, act or adminis-
trative ruling, or to either or all of
them, in the District Court of Travis
County, Texas, and not elsewhere,
against the State Board of Insurance
as defendant. Said action shall have
precedence over all other causes on
the docket of a different nature. The
action shall not be limited to ques-
tions of law and the substantial evi-
dence rule shall not apply, except as
interpretation of the Constitution may
require, but such action shall be tried
and determined upon a trial de nov.
to the same extent as now provided
for in the case of an appeal from the
Justice Court to the County Court.
Either party to said action may ap-
peal to the Appellate Court having
jurisdiction of said cause and said
appeal shall be at once returnable to
said Appellate Court having jurisdic-
tion of said cause and said action so
appealed shall have precedence in said
Appellate Court over all causes of a
different character therein pending.
The Board shall not be required to
give any appeal bond in any cause
arising hereunder.
"Section 8. Venue. Except for
causes of action based upon terms of
an insurance policy or policies is-
sued by an insurance company
placed in conservatorship, any suit
filed against an insurance company
or its Conservator, after the entrance
of an order by the Commissioner of
Insurance placing such insurance com-
pany in conservatorship and while
such order is in effect, shall be
brought in a court of competent jur-
isdiction in Travis County, Texas, and
not elsewhere. The Conservator ap-
pointed hereunder for such company
may file suit in any court of compe-
tent jurisdiction in Travis County,
Texas, against any person for the
purpose of preserving, protecting, or
recovering any assets or property of
such insurance company including
claims or causes of action belonging
to or which may be asserted by such
insurance company.
"Section 9. Duration Of Conserva-
torship. As respects a conservator-1917
May 9, 1967
HOUSE JOURNAL
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Related Items
Other items on this site that are directly related to the current legislative document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives. Journal of the House of Representatives of the Regular Session of the Sixtieth Legislature of the State of Texas, Volume 1, legislative document, 1967; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth193874/m1/1921/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.