Texas Insurance Code
§ 462.307 — ASSIGNMENT OF RIGHTS
IN § 462.307Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION · Art. G. ASSOCIATION POWERS AND DUTIES RELATING TO COVERED CLAIMS
Statute text
View on source(a)A person recovering under this chapter assigns to the association the person's rights:
(1)under the insurance policy; and
(2)to recover for the occurrence that is the basis of the claim under this chapter under an insurance policy issued by an unimpaired insurer to the extent of the person's recovery from the association.
(b)The association may pursue a claim to which the association is subrogated under Subsection (a) in the association's own name or in the name of the person recovering under this chapter.
(c)An insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as that person would have been required to cooperate with the impaired insurer.
(d)Except as provided by Section 462.308 or 462.212, the association does not have a cause of action against the impaired insurer's insured for money the association has paid, other than a cause of action that the impaired insurer would have had if the money had been paid by the impaired insurer.
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 343 (S.B. 1063), Sec. 8, eff. September 1, 2019.