Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 5. PROTECTION OF CONSUMER INTERESTS |
Subtitle C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES |
Chapter 541. UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE ACTS OR PRACTICES |
Subchapter D. PRIVATE ACTION FOR DAMAGES |
Sec. 541.157. CONTENTS OF SETTLEMENT OFFER
Latest version.
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A settlement offer made by a person against whom a claim under this subchapter is pending must include an offer to pay the following amounts, separately stated:
(1) an amount of money or other consideration, reduced to its cash value, as settlement of the claim for damages; and
(2) an amount of money to compensate the claimant for the claimant's reasonable and necessary attorney's fees incurred as of the date of the offer.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.