Texas § 2602.057 RIGHTS OF TITLE INSURANCE COMPANY WITH REPRESENTATIVE ON BOARD.

Texas Statutes

§ 2602.057 — RIGHTS OF TITLE INSURANCE COMPANY WITH REPRESENTATIVE ON BOARD.

Texas § 2602.057

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Bluebook

Tex. Insurance Code Code Ann. § 2602.057 (2026).

Text

Sec. 2602.057. RIGHTS OF TITLE INSURANCE COMPANY WITH REPRESENTATIVE ON BOARD.

(a)A title insurance company is not prohibited, because the company has an officer, director, or employee serving as a board member, from negotiating for or entering into a contract of reinsurance or assumption of liability or a contract of substitution to provide for liabilities for covered claims with the association, the commissioner, or the receiver or conservator of an impaired title insurance company or agent.

(b)A conflict of interest does not arise from entering into a contract described by this section. SUBCHAPTER C. GENERAL POWERS AND DUTIES OF ASSOCIATION

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Sec. 2602.057. RIGHTS OF TITLE INSURANCE COMPANY WITH REPRESENTATIVE ON BOARD. (a) A title insurance company is not prohibited, because the company has an officer, director, or employee serving as a board member, from negotiating for or entering into a contract of reinsurance or assumption of liability or a contract of substitution to provide for liabilities for covered claims with the association, the commissioner, or the receiver or conservator of an impaired title insurance company or agent.
(b) A conflict of interest does not arise from entering into a contract described by this section.
SUBCHAPTER C. GENERAL POWERS AND DUTIES OF ASSOCIATION

Legislative History

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005. Amended by: Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614 ), Sec. 3, eff. September 1, 2019.