State RegulationsTX specificDifficulty 1/5
A Texas-authorized life insurer's certificate of authority was issued several years ago. Under TIC 801.053, when does that certificate expire?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under TIC 801.053, a certificate of authority issued to an insurer under that chapter is effective until it is suspended or revoked; there is no periodic expiration date built into the certificate. That is why the ongoing obligations matter so much: under TIC 801.057 the certificate is subject to being suspended or revoked if the insurer fails to file an annual statement required by law. In short, good-standing filings rather than a renewal calendar keep a certificate alive.
Why the other options are wrong
- B) The certificate carries no annual expiration; it continues until suspended or revoked.
- C) A change in officers does not by itself terminate a certificate of authority.
- D) No new application is required to keep a valid certificate in force.
Memory hook
A certificate has no expiry date; only suspension or revocation ends it.