Texas § 2602.111 DELEGATION OF POWERS AND DUTIES.

Texas Statutes

§ 2602.111 — DELEGATION OF POWERS AND DUTIES.

Texas § 2602.111

Code INInsurance Code

This text of Texas § 2602.111 (DELEGATION OF POWERS AND DUTIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 2602.111 (2026).

Text

Sec. 2602.111. DELEGATION OF POWERS AND DUTIES.

(a)The plan of operation may provide that, on approval of the board, a power or duty of the association may be delegated to a corporation or other organization that:

(1)performs or will perform in two or more states functions similar to those of the association or its equivalent; and

(2)provides protection not substantially less favorable and effective than that provided by this chapter.

(b)A power or duty under Section 2602.101 (a)(1) or (4), 2602.107 , 2602.201 , 2602.202 , 2602.203 , or 2602.205 may not be delegated under this section.

(c)The corporation or other organization shall be:

(1)reimbursed as a servicing facility would be reimbursed; and

(2)paid for its performance of any other functions of the association.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2602.111. DELEGATION OF POWERS AND DUTIES. (a) The plan of operation may provide that, on approval of the board, a power or duty of the association may be delegated to a corporation or other organization that:
(1) performs or will perform in two or more states functions similar to those of the association or its equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 2602.101 (a)(1) or (4), 2602.107 , 2602.201 , 2602.202 , 2602.203 , or 2602.205 may not be delegated under this section.
(c) The corporation or other organization shall be:
(1) reimbursed as a servicing facility would be reimbursed; and
(2) paid for its performance of any other functions of the 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. 12, eff. September 1, 2019.