Sec. 823.104. PROHIBITION OF ACTION TO AVOID APPLICATION OF SUBCHAPTER. (a) A domestic insurer may not enter into transactions with persons in the insurer's insurance holding company system if: (1) the transactions are part of a plan or series of similar transactions; and (2) the purpose of entering into the transactions is to avoid a threshold amount provided by Section 823.103 . (b) If the commissioner determines that over any 12-month period a domestic insurer enters into transactions that violate Subsection (a), the commissioner may: (1) consider the cumulative effect of the transactions; and (2) apply: (A) Section 823.103 ; or (B) sanctions under this code.
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