28 TAC §5.9500
1. INTRODUCTION. The Commissioner of Insurance adopts the repeal of Subchapter O, §5.9500, defining small and medium-sized insurers as referenced in Insurance Code Article 5.101 concerning the Flexible Rating Program for Certain Insurance Lines. The repeal is adopted without changes to the proposal published in the June 29, 2007 issue of the Texas Register (32 TexReg 3962).
2. REASONED JUSTIFICATION. The repeal of Subchapter O, §5.9500, is necessary because the expiration of Article 5.101 on December 1, 2004, obviates the need for the subchapter. This section defines the terms "small and medium-sized insurers" and "lines of property and casualty insurance" solely for the purpose of Article 5.101. The Department identified this subchapter for repeal as part of the Department's ongoing review of existing rules pursuant to Government Code §2001.039.
3. HOW THE SECTION WILL FUNCTION. The adoption of the repeal will result in the removal of obsolete and potentially confusing provisions from the Texas Administrative Code.
4. SUMMARY OF COMMENTS AND AGENCY RESPONSE. The Department did not receive any comments on the proposed repeal.
5. STATUTORY AUTHORITY. The repeal of Subchapter O, §5.9500, is adopted pursuant to Insurance Code §36.001, which provides that the Commissioner of Insurance may adopt any rules necessary and appropriate to implement the powers and duties of the Texas Department of Insurance under the Insurance Code and other laws of this state.
6. TEXT.
SUBCHAPTER O. FLEXIBLE RATING PROGRAM FOR CERTAIN INSURANCE LINES
§5.9500 . Definition of Small and Medium-Sized Insurers as Referenced in Article 5.101 of the Insurance Code.