Tex. Ins. Code § 443.013 · Subchapter A. GENERAL PROVISIONS
EXECUTORY CONTRACTS AND UNEXPIRED LEASES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The receiver may assume or reject any executory contract or unexpired lease of the insurer.
(b) Neither the filing of a petition commencing delinquency proceedings under this chapter nor the entry of an order for a delinquency proceeding constitutes a breach or anticipatory breach of any contract or lease of the insurer.
(c) If there has been a default in an executory contract or unexpired lease of the insurer, the receiver may not assume the contract or lease unless, at the time of the assumption of the contract or lease, the receiver:
(1) cures or provides adequate assurance that the receiver will promptly cure the default; and
(2) provides adequate assurance of future performance under the contract or lease.
(d) Subsection (c) does not apply to a default that is a breach of a provision relating to:
(1) the insolvency or financial condition of the insurer at any time before the closing of the delinquency proceeding;
(2) the appointment of or taking possession by a receiver in a case under this chapter or a custodian before the commencement of the delinquency proceeding; or
(3) the satisfaction of any penalty rate or provision relating to a default arising from any failure of the insurer to perform nonmonetary obligations under the executory contract or unexpired lease.
(e) A claim arising from the rejection, under this section or a plan of rehabilitation, of an executory contract or unexpired lease of the insurer that has not been assumed shall be determined, treated, and classified as if the claim had arisen before the date of the filing of a successful petition commencing the delinquency proceeding.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 995 (H.B. 2157), Sec. 1, eff. September 1, 2005.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.013 by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.004(a)(1), eff. September 1, 2007.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.013 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.004(a)(1), eff. September 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.443.htm
- Text hash
- sha256 624d961f38178895c74a2bc32f3692aadb041795a4b871172e2f704e21c1bdd1
- 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 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 443.013. Each shows the citation as that text prints it.
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