Tex. Ins. Code Section 823.0145
Supervisory Colleges


(a)

With respect to any insurer registered under Subchapter B, and in accordance with Subsection (c), the commissioner may participate in a supervisory college for a domestic insurer that is part of an insurance holding company system with international operations in order to determine the insurer’s compliance with this chapter. The commissioner may:

(1)

initiate the establishment of a supervisory college;

(2)

clarify the membership and participation of other entities in the supervisory college;

(3)

clarify the functions of the supervisory college and the role of other entities in the supervisory college;

(4)

establish a group-wide supervisor;

(5)

coordinate the ongoing activities of the supervisory college, including meetings, regulatory activities, and processes for information sharing; and

(6)

establish a crisis management plan.

(b)

In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers under Subchapter H, the commissioner may participate in a supervisory college with other entities that regulate the insurer or its affiliates, including other state, federal, and international regulatory entities. The commissioner may enter into agreements under Section 823.011 (Confidentiality of Information) to cooperate with other regulatory entities. Nothing in this section shall be construed as delegating to the supervisory college the commissioner’s authority to regulate the insurer or its affiliates.

(c)

A registered insurer subject to this section shall pay the reasonable expenses, including reasonable travel expenses, of the commissioner’s participation in a supervisory college under Subsection (b). For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the entities that regulate the insurer or its affiliates, and the commissioner may establish a regular assessment to the insurer for the payment of expenses related to the regulation of the insurer.
Added by Acts 2011, 82nd Leg., R.S., Ch. 922 (S.B. 1431), Sec. 4, eff. September 1, 2011.

Source: Section 823.0145 — Supervisory Colleges, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­823.­htm#823.­0145 (accessed Mar. 23, 2024).

823.001
Findings and Purpose
823.002
Definitions
823.003
Classification as Affiliate or Subsidiary
823.004
Classification as Commercially Domiciled Insurer
823.005
Description of Control
823.006
Description of Insurance Holding Company System
823.007
Description of Voting Security
823.008
Standard for Determining Surplus Reasonableness and Adequacy
823.009
Situs of Securities of Domestic Insurer
823.010
Disclaimer of Affiliation
823.011
Confidentiality of Information
823.012
Rules
823.013
Mandamus
823.014
Applicability of Chapter to Foreign or Alien Insurer
823.015
Exemption from Chapter
823.051
Registration by Insurer Required
823.052
Required Information
823.053
Reporting Material Changes
823.054
Material Information
823.055
Annual Registration Statement
823.056
Termination of Registration
823.057
Consolidated Filing
823.058
Alternative Registration
823.059
Exemptions
823.060
Violation of Subchapter
823.101
Standards for Transaction Within an Insurance Holding Company System
823.103
Notice of and Commissioner’s Decision on Specified Transactions
823.104
Prohibition of Action to Avoid Application of Subchapter
823.105
Type of Authority Provided
823.106
Standards of Review
823.107
Extraordinary Dividends or Distributions
823.0145
Supervisory Colleges
823.0147
Group-wide Supervision of Internationally Active Insurance Groups
823.151
Presumption of Control
823.152
Employment of Experts
823.153
Controller of Domestic Insurer Considered Domestic Insurer
823.154
Requirements for Acquisition or Exercise of Control or Divestiture of Domestic Insurer
823.155
Amendment of Statement
823.156
Notice Expenses
823.157
Approval of Acquisition, Change, or Divestiture of Control
823.159
Hearing
823.160
Deadline for Completion of Acquisition
823.161
Insurer’s Duty to Notify
823.162
Prohibition on Certain Actions Related to Acquisition of Control or Merger
823.163
Retention of Control
823.164
Exemptions from Subchapter
823.165
Violation of Subchapter
823.201
Acquiring Person
823.202
Consideration for Acquisition
823.203
Financial Information About Acquiring Person
823.204
Plan for Future of Insurer
823.205
Voting Securities
823.206
Additional Information About Acquiring Organization
823.207
Oath or Affirmation Required
823.251
Definition
823.252
General Authority Relating to Affiliates
823.253
General Standard for Investment in Affiliate
823.254
Standard for Investment in Affiliate by Insurer with Low Total Liabilities
823.255
Agreement of Affiliate to Limit Certain Investments
823.256
Commissioner’s Approval of Investment
823.257
Determination Required Before Investment
823.258
Disposition of Investment in Subsidiary After Cessation of Control
823.259
Exemption from Certain Limitations
823.301
Scope of Subchapter
823.302
Bases for Determining Valuation
823.303
Adjustment to Determination
823.304
Use of Different Bases
823.305
Valuating Acquired Affiliate
823.306
Use of Unaudited Information
823.307
Modification by Commissioner
823.351
Examination of Insurer
823.352
Limitation on Power
823.353
Payment of Examination Costs
823.354
Use of Advisors
823.355
Cumulative Authority
823.401
Prohibition of Indirect Action for Controlled Insurer
823.402
Prohibition on Voting Certain Securities
823.403
Management of Controlled Insurer
823.451
Receivership
823.452
Revocation, Suspension, or Nonrenewal of Insurer’s Authority
823.453
Voiding Unauthorized Action
823.454
Administrative Penalty
823.455
Equitable Relief
823.456
Seizure or Sequestration of Voting Securities
823.457
Long Arm Jurisdiction
823.458
Sanctions
823.501
Offense of Violating Chapter
823.502
Offense of Subscribing to or Making False Statement
823.503
Beginning Criminal Proceedings
823.0595
Enterprise Risk Report
823.0596
Liquidity Stress Test

Accessed:
Mar. 23, 2024

§ 823.0145’s source at texas​.gov