Tex. Ins. Code § 2602.103 · Subchapter C. GENERAL POWERS AND DUTIES OF ASSOCIATION
EMPLOYEES AND EXPERTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The association may employ or retain persons to perform the functions necessary or proper under this chapter, including persons necessary to handle the association's financial transactions.
(b) On the commissioner's approval, the association shall reimburse the department out of the guaranty fee account for the cost, including reasonable and necessary expenses, to employ or retain one or more persons to:
(1) audit and review agent escrow and trust accounts, financial condition, and compliance with applicable statutes and rules;
(2) report to the commissioner on the accounts, condition, and compliance; or
(3) supervise a person employed or retained to perform audit and review under Subdivision (1).
(c) A person employed or retained under Subsection (b) acts solely under the direction of and as assigned by the commissioner but shall report the person's activity and expenses to the association on the request of the association.
(d) Repealed by Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 31, eff. September 1, 2019.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 6, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 31, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2602.htm
- Text hash
- sha256 8d748ff40268ea433e89b131c8b5c0e426e4a0b3942809ee15236fa8871cab06
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 2602.103. Each shows the citation as that text prints it.
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