Tex. Ins. Code § 2602.307 · Subchapter G. ASSOCIATION POWERS AND DUTIES RELATING TO COVERED CLAIMS
SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The settlement of a covered claim by the association binds the receiver or statutory successor of an impaired title insurance company.
(b) The court shall give the covered claim the same priority against assets of the impaired title insurance company that the claim would have had in the absence of this chapter.
(c) The association's expenses in handling claims have the same priority as the receiver's expenses.
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 205d5ba0aa8bd7333997c927b312a3550c36f7802a2a84dc2151ed40295df565
- 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.