Tex. Ins. Code § 462.164 · Subchapter D. ASSESSMENTS IN GENERAL
PARTICIPATION RECEIPTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On receipt from a member insurer of payment of an assessment or partial assessment under Section 462.160 or 462.162(b), the association shall provide the insurer with a participation receipt. A participation receipt creates liability against the account described by Section 462.105 for the line or lines of business for which the assessment was made.
(b) The account from which an advance is made to an impaired insurer for the payment of covered claims is a general creditor of the impaired insurer for the money advanced. With reference to the remaining balance of an advance not used to pay covered claims, the claim of the account has preference over other general creditors.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 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.462.htm
- Text hash
- sha256 38baaa675822a1b16fae9dbb2aaf354b2072692762cdad3a302dc4fee1563ba7
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Insurance Code
- Tex. Ins. Code § 462.105ACCOUNTS.Printed as Section 462.105
- Tex. Ins. Code § 462.160ASSESSMENT FOR ADDITIONAL MONEY FOR ACCOUNTS.Printed as Section 462.160 or 462.162(b)
- Tex. Ins. Code § 462.162MAXIMUM ASSESSMENT OF INSURER; ADDITIONAL ASSESSMENT AUTHORITY UNDER CERTAIN CIRCUMSTANCES.Printed as Section 462.160 or 462.162(b)
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 462.164. Each shows the citation as that text prints it.
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.