If an insurance company does not comply with the capital and surplus requirements of this chapter, the commissioner may order the insurance company to cease writing new business and may:
(1) place the insurance company under state supervision or conservatorship;
(2) declare the insurance company to be in a hazardous condition as provided by Subchapter A, Chapter 404;
(3) declare the insurance company to be impaired as provided by § 841.206; or
(4) apply to the insurance company any other applicable sanction provided by this code.