Tex. Ins. Code § 463.251 · Subchapter F. POWERS AND DUTIES OF ASSOCIATION RELATING TO IMPAIRED OR INSOLVENT INSURER
IMPAIRED DOMESTIC INSURER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies only to a member insurer that is an impaired domestic insurer.
(b) With the commissioner's approval, the association may:
(1) guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, one or more of the insurer's policies or contracts;
(2) provide money, pledges, notes, guarantees, or other means proper to:
(A) implement Subdivision (1); and
(B) ensure payment of the insurer's contractual obligations until action is taken under Subdivision (1); or
(3) loan money to the insurer.
(c) In taking action under Subsection (b), the association may impose any condition that:
(1) does not impair the insurer's contractual obligations; and
(2) is approved by:
(A) the commissioner; and
(B) the insurer, except in a conservation or rehabilitation ordered by a court.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 16, eff. September 1, 2019.
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 c4bfed31a6a9796509a6f735ed3e1260983d688e0dc5af5b77ec8c0508b41a70
- 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 1 provision
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