Tex. Ins. Code § 463.257 · Subchapter F. POWERS AND DUTIES OF ASSOCIATION RELATING TO IMPAIRED OR INSOLVENT INSURER
IMPOSITION OF LIEN OR MORATORIUM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
To carry out the association's duties under this chapter and with the court's approval, the association may:
(1) impose a permanent policy or contract lien in connection with any guarantee, assumption, or reinsurance agreement if the association determines that:
(A) the amounts that may be assessed under this chapter are insufficient to ensure full and prompt performance of the association's duties under this chapter; or
(B) adverse economic or financial conditions affecting member insurers make imposition of the lien in the public interest; or
(2) in addition to any contractual provision for deferral of cash or policy loan value, impose a temporary moratorium or lien on payment of cash values and policy loans or the exercise of any other right to withdraw money held in connection with a policy or contract.
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 1fea5a6b80430955e71b86e76d3cda57df60cb0706875ce74f1b1c4e58e31a24
- 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.