Texas Insurance Code
§ 462.159 — ESTIMATE OF ADDITIONAL MONEY NEEDED ON IMPAIRMENT OF INSURER
IN § 462.159Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION · Art. D. ASSESSMENTS IN GENERAL
Statute text
View on source(a)If the commissioner determines that an insurer has become an impaired insurer, the association shall promptly estimate the amount of additional money, by lines of business, needed to supplement the immediately available assets of the impaired insurer to pay covered claims.
(b)The board shall make additional money available as the actual need arises for each impaired insurer.
Legislative history
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.