Tex. Ins. Code § 462.310 · 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 or a similar organization in another state binds the receiver or statutory successor of an impaired insurer.
(b) The court having jurisdiction shall give the covered claim the same priority against assets of the impaired insurer that the claim would have had in the absence of this chapter.
(c) The expenses of the association or a similar organization in another state in handling claims have the same priority as the receiver's expenses.
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 ddcc5eec0b2e1bc4a4385a3595f3382e1fb5b541f8931c6ab7d7d1e508fdf1b3
- 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.