Tex. Ins. Code § 2602.306 · Subchapter G. ASSOCIATION POWERS AND DUTIES RELATING TO COVERED CLAIMS
ASSIGNMENT OF CLAIMANT'S RIGHTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Any cause of action or other right of the holder of a covered claim arising from the occurrence on which the claim is based is assigned to the association on the holder's acceptance of:
(1) the association's payment of the claim; or
(2) a benefit of a contract by the association providing for reinsurance or assumption of liabilities or for substitution.
(b) Rights are assigned to the association under Subsection (a) to the extent of the amount accepted or the value of the benefit provided.
(c) The association may assign the rights acquired under this section to the title insurance company executing the reinsurance, assumption, or substitution agreement.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
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 9c870bc46a0b265aa81d1e3153084c4106b7ad52709109970733115ed1a1ae15
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.