Tex. Ins. Code § 4053.152 · Subchapter D. ENFORCEMENT
GUARANTY FUND REIMBURSEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a court finds by a final nonappealable judgment that a violation of this chapter by a managing general agent contributes materially to the insolvency of an insurer under which the agent held an appointment, the agent shall reimburse the appropriate guaranty fund for money paid to cover losses of the insolvent insurer in an amount equal to all payments made from that guaranty fund in excess of:
(1) gross earned premiums and investment income earned on those premiums; and
(2) loss reserves for that business.
(b) The reimbursement made under this section shall be used for losses, loss adjustments, and administrative expenses on business placed by the managing general agent.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, 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.4053.htm
- Text hash
- sha256 2d8c4c3ebde0968d9aefb3c32a2586641753199035af6761b5e451ce5eb11e91
- 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.