Texas Insurance Code

§ 463.251 — IMPAIRED DOMESTIC INSURER

IN § 463.251Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION · Art. F. POWERS AND DUTIES OF ASSOCIATION RELATING

Statute text

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(a)This section applies only to a member insurer that is an impaired domestic insurer.

(b)With the commissioner's approval, the association may:

(1)guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, one or more of the insurer's policies or contracts;

(2)provide money, pledges, notes, guarantees, or other means proper to:

(A)implement Subdivision (1); and

(B)ensure payment of the insurer's contractual obligations until action is taken under Subdivision (1); or

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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 16, eff. September 1, 2019.