(a) The retirement system may suspend or revoke a registration, certification, or re-certification as provided under Article 6228a-5, Texas Civil Statutes. A proceeding to revoke or suspend is a contested case proceeding under Chapter 2001, Government Code. (b) A period of suspension of certification or registration shall not extend the five-year period of company certification or product registration. (c) In lieu of suspension or revocation of a company's registration to offer products and registration of all individual products, the retirement system may suspend or revoke one or more specific registered products if it finds that the grounds for suspension are limited to the specific product or products. (d) In the event that a company is adversely affected by a decision or action of the retirement system revoking or suspending registration, certification, or re-certification, the company may request review by the designee of the executive director of the retirement system. (e) The executive director's designee shall mail a final written administrative decision, which shall include a statement that the company may appeal the decision to the executive director and the deadline for doing so. (f) A company adversely affected by a final written administrative decision of the executive director's designee may appeal the decision to the executive director of TRS as provided in §43.5 of this title (relating to Request for Adjudicative Hearing). The executive director or his designee shall determine whether the appeal should be docketed and set for a contested case hearing pursuant to §43.9 of this title (relating to Docketing of Appeal for Adjudicative Hearing and Dismissal for Failure to Obtain Setting). (g) The procedures of Chapter 43 of this title (relating to Contested Cases) are adopted by reference for the conduct of a proceeding subject to this section.

Source Note: The provisions of this §53.19 adopted to be effective October 29, 2007, 32 TexReg 7694; amended to be effective January 11, 2011, 36 TexReg 54