Tex. Ins. Code § 493.154 · Subchapter D. REQUIREMENTS FOR TRUST CREDIT ALLOWANCE
TERMS OF TRUST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The trust instrument must provide that contested claims are valid and enforceable on the final order of any court in the United States.
(b) The trust must vest legal title to the trust's assets in the trustees of the trust for:
(1) the trust's United States policyholders and ceding insurers; and
(2) the policyholders' and ceding insurers' assigns and successors in interest.
(c) The trust must remain in effect as long as the assuming insurer has outstanding obligations under a reinsurance contract subject to the trust.
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.493.htm
- Text hash
- sha256 f963f61814e5cb831ba21444b50054cdaeeba699616b9b7090854bbc79e3f2ea
- 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.