Texas Administrative Code
Title 16 - ECONOMIC REGULATION
Part 4 - TEXAS DEPARTMENT OF LICENSING AND REGULATION
Chapter 77 - SERVICE CONTRACT PROVIDERS AND ADMINISTRATORS
Section 77.71 - Responsibilities of Providers Ceasing Operations or Discontinuing Business
Current through Reg. 49, No. 12; March 22, 2024
(a) To the extent not prohibited by any other law or court order, a provider must comply with the provisions under this rule when ceasing operations or discontinuing business in this state.
(b) A provider must notify the department as soon as possible when ceasing operations or discontinuing business in this state.
(c) Within 10 days after notifying the department in accordance with subsection (b), a provider must submit to the department:
(d) A provider that ceases operations or discontinues business in this state remains contractually and financially responsible to its service contract holders with active service contracts in this state.
(e) A provider that ceases operations or discontinues business in this state shall retain its records until the provider furnishes the executive director with proof satisfactory to the executive director that the provider has performed or otherwise satisfied all liabilities and obligations to its service contract holders in this state.
(f) Any security deposit on file with the department shall be retained by the department until the provider furnishes the executive director with proof satisfactory to the executive director that the provider has performed or otherwise satisfied all liabilities and obligations to its service contract holders in this state.