Tex. Ins. Code § 463.106 · Subchapter C. GENERAL POWERS AND DUTIES OF ASSOCIATION
DELEGATION OF POWERS AND DUTIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The plan of operation may provide that, on approval of the board and the commissioner, a power or duty of the association is delegated to a corporation or other organization that:
(1) performs in two or more states functions similar to those of the association or the association's equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 463.261(c) or Subchapter D, other than a duty under Section 463.161(c), may not be delegated under this section.
(c) The corporation or other organization to which a power or duty is delegated shall be:
(1) reimbursed for a payment made on behalf of the association; and
(2) paid for performing any other function of the association.
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.463.htm
- Text hash
- sha256 4e2b42afd0a01ec058fb68177345ec39ec133adefc784c80d9e1fce81652ace5
- 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
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