(a) After the application and application fee for a certificate of authority under Section 964.057 are filed with the department and the applicant has complied with all legal requirements, the commissioner shall conduct an examination of the applicant to determine whether:
(1) the minimum capital and surplus, or the equivalent, requirements of Section 964.056 are satisfied;
(2) the capital and surplus, or the equivalent, are the bona fide property of the applicant; and
(3) the applicant has fully complied with applicable insurance laws.
(b) The commissioner may appoint a competent and disinterested person to conduct the examination required by this section. The examiner shall file an affidavit of the examiner’s findings with the commissioner. The commissioner shall record the affidavit.

Terms Used In Texas Insurance Code 964.058

  • Affidavit: means a statement in writing of a fact or facts signed by the party making it, sworn to before an officer authorized to administer oaths, and officially certified to by the officer under his seal of office. See Texas Government Code 312.011
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005
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