Texas Insurance Code

§ 463.113 — BOARD REPORT AT CONCLUSION OF INSOLVENCY

IN § 463.113Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION · Art. C. GENERAL POWERS AND DUTIES OF ASSOCIATION

Statute text

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(a)At the conclusion of an insurer insolvency in which the association was obligated to pay a covered claim, the board shall prepare and submit to the commissioner a report containing any information the board possesses concerning the history and causes of the insolvency.

(b)The board:

(1)shall cooperate with the boards of directors of guaranty associations in other states to prepare a report on the history and causes of the insolvency of a particular insurer; and

(2)may adopt by reference a report prepared by any of those associations.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.