Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 11. TITLE INSURANCE |
Subtitle C. FINANCIAL SOLVENCY |
Chapter 2602. TEXAS TITLE INSURANCE GUARANTY ASSOCIATION |
Subchapter F. COVERED CLAIMS |
Sec. 2602.254. CERTAIN CONSERVATOR AND RECEIVER EXPENSES COVERED
Latest version.
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Reasonable and necessary administrative expenses incurred by a conservator appointed by the commissioner or a receiver appointed by a court for an unauthorized insurer operating in this state are covered claims if the commissioner has notified the association or the association has otherwise become aware that:
(1) the unauthorized insurer has insufficient liquid assets to pay those expenses; and
(2) insufficient money is available from:
(A) abandoned money under Section 443.304; and
(B) department appropriations for use in paying those expenses.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 , Sec. 2I.007, eff. April 1, 2009.