With the approval of the department, the comptroller shall return the deposit required under this subchapter, or the unencumbered balance of the deposit, to the Mexican casualty insurance company on:

1. (1) the company's withdrawal from the business of insurance in this state; and

2. (2) a showing to the department that:

   1. (A) each policy written by the company in this state has expired or been canceled; and
   2. (B) each claim or obligation of the company on a policy written in this state that constitutes a lawful charge against the deposit has been satisfied.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.