Tex. Ins. Code § 2213.051 · Subchapter B. CREATION AND OPERATION OF SELF-INSURANCE TRUST
CREATION OF BANK SELF-INSURANCE TRUST; COVERAGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A group or association of banks or bankers, composed of any number of members, may create a bank self-insurance trust to self-insure banks that are members of the group or association, or that have any officers who are members of the group or association, against losses described by this section.
(b) The bank self-insurance trust may self-insure a bank described by Subsection (a) against losses resulting from:
(1) dishonest acts and criminal acts of employees;
(2) a robbery or other act commonly included within a bank's bond coverage; and
(3) indemnification for a wrongful act committed by a director, officer, or employee of a member of the group or association, subject to the limitations under Chapter 8, Business Organizations Code.
(c) The trustees shall determine, according to the plan, the amount of coverage to be provided to a bank participating in the bank self-insurance trust.
(d) Expired.
(e) Expired.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2213.htm
- Text hash
- sha256 da110001dc6a57e5c6cc4ec39ce2fb73b9f985accec7e76e02c65c651c75ad1b
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Business Organizations Code
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