Texas Insurance Code

§ 443.202 — RECOVERY FROM AFFILIATES

IN § 443.202Title 4. REGULATION OF SOLVENCY · Part C. DELINQUENT INSURERS · Ch. 443. INSURER RECEIVERSHIP ACT · Art. E. ASSET RECOVERY

Statute text

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(a)The receiver has a right to recover from any affiliate of the insurer any property of the insurer transferred to or for the benefit of the affiliate, or the property's value, if the transfer was made within the two years preceding the initial petition for receivership.

(b)A transfer is not recoverable under Subsection (a) if the affiliate shows that, when the transfer was made:

(1)the insurer was solvent;

(2)the transfer was lawful; and

(3)neither the insurer nor the affiliate knew or reasonably should have known that the transfer, under then-applicable statutory accounting standards, would:

(A)place the insurer:

…

Legislative history

Added by Acts 2005, 79th Leg., Ch. 995 (H.B. 2157), Sec. 1, eff. September 1, 2005. Redesignated from Insurance Code - Not Codified, Art/Sec 21A.202 by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.004(a)(1), eff. September 1, 2007. Redesignated from Insurance Code - Not Codified, Art/Sec 21A.202 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.004(a)(1), eff. September 1, 2007.