Texas Insurance Code
§ 463.254 — LIFE OR HEALTH INSURANCE POLICIES OR CONTRACTS
IN § 463.254Title 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
View on source(a)This section applies only when the association is taking an action under Section 463.252(b)(2) or 463.253 with respect to a life or health insurance policy or contract.
(b)The association, in accordance with Subsections (c) and (d), as applicable, shall ensure payment of benefits identical to the benefits that would have been payable under the policy or contract of the insurer.
(c)For a group policy or contract, the association shall ensure payment of benefits under Subsection (b) for claims incurred before the later of:
(1)the earlier of the next renewal date under the policy or contract or the 45th day after the date the association becomes obligated with respect to the policy or contract; or
(2)the 30th day after the date the association becomes obligated with respect to the policy or contract.
(d)For an individual policy, the association shall ensure payment of benefits under Subsection (b) for claims incurred before the later of:
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 19, eff. September 1, 2019.