Tex. Ins. Code § 464.053 · Subchapter B. FUND
ADVANCE OF FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In the event of a delinquency proceeding of an unauthorized insurer, the commissioner may advance funds from the fund account if the assets of the unauthorized insurer are insufficient to pay administrative expenses or policy claims. The commissioner shall hold the funds in a separate account. Funds advanced under this section are available to supplement the assets of the unauthorized insurer, and do not become property of the unauthorized insurer or the receivership estate.
(b) In determining an amount to be advanced, the commissioner shall consider:
(1) the amount existing in the fund, and any estimated future amounts to be deposited in the fund;
(2) the assets of the unauthorized insurer that are anticipated to be available to pay administrative expenses and claims;
(3) the projected administrative expenses and claims in the delinquency proceeding; and
(4) the projected administrative expenses and claims in other existing and anticipated delinquency proceedings of unauthorized insurers.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1026 (H.B. 4339), Sec. 1, eff. June 19, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.464.htm
- Text hash
- sha256 a6f8467f30d154df04d9643a87dec3e083d207f6802e27ee139743e67c822561
- 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
Provisions in this library whose text cites Tex. Ins. Code § 464.053. 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.