(a) Except as provided in §5.4307 of this title, the association and an insurer must submit to the department for approval any depopulation program that encourages the transfer of association policies to insurers through the voluntary market. The submission must include all necessary documents, including notices and policy forms.
(b) The program must provide necessary protections for the policyholders and policyholders' agents, including Insurance Code §2210.704(b).
(c) An insurer and the association must not proceed with the voluntary market depopulation program, and it is not effective unless the commissioner approves the program in writing.

Source Note: The provisions of this §5.4306 adopted to be effective December 22, 2015, 40 TexReg 9296