Texas Insurance Code

§ 463.253 — INSOLVENT INSURER

IN § 463.253Title 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 insolvent insurer.

(b)The association shall provide money, pledges, guarantees, or other means reasonably necessary to discharge the insurer's duties and to:

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

(2)ensure payment of the insurer's contractual obligations. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 18, eff. September 1, 2019.