Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 5 - PROPERTY AND CASUALTY INSURANCE
Subchapter N - RESIDENTIAL PROPERTY INSURANCE MARKET ASSISTANCE PROGRAM
Division 2 - PLAN OF OPERATION
Section 5.9414 - Termination of MAP

Universal Citation: 28 TX Admin Code § 5.9414

Current through Reg. 50, No. 13; March 28, 2025

(a) The Executive Committee may recommend termination of the MAP to the Commissioner, but not earlier than 48 months following the commencement date of the initial plan of operation. Such recommendation shall be made in writing to the Commissioner and supported by findings as to why the MAP should be terminated and must be approved by at least two-thirds of the members of the Executive Committee.

(b) Pursuant to Article 21.49-12 §6(b) of the Insurance Code, the MAP shall be terminated only upon approval of the Commissioner, but in no event earlier than 48 months following the commencement date of the initial plan of operation. Such termination by the Commissioner may be made only after notice and hearing.

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