Texas § 2602.153 USE OF FEE.

Texas Statutes

§ 2602.153 — USE OF FEE.

Texas § 2602.153

Code INInsurance Code

This text of Texas § 2602.153 (USE OF FEE.) 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. § 2602.153 (2026).

Text

Sec. 2602.153. USE OF FEE.

(a)The association shall collect, receive, retain, disburse, and advance the guaranty fees only as specifically provided by this chapter.

(b)The following claims shall be paid from guaranty fees only and may not be paid from assessments:

(1)covered claims against trust funds or an escrow account of an impaired agent under Section 2602.252 ;

(2)expenses incurred in complying with Subchapter J;

(3)conservator and receiver expenses under Section 2602.254 ; and

(4)administrative expenses with respect to the estate of an impaired agent under Section 2602.110 .

(c)Repealed by Acts 2009, 81st Leg., R.S., Ch. 1025, Sec. 18, eff. September 1, 2009.

(d)Guaranty fees may be used only for payment of:

(1)claims described by Subsection (b); and

(2)expenses related to

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

Sec. 2602.153. USE OF FEE. (a) The association shall collect, receive, retain, disburse, and advance the guaranty fees only as specifically provided by this chapter.
(b) The following claims shall be paid from guaranty fees only and may not be paid from assessments:
(1) covered claims against trust funds or an escrow account of an impaired agent under Section 2602.252 ;
(2) expenses incurred in complying with Subchapter J;
(3) conservator and receiver expenses under Section 2602.254 ; and
(4) administrative expenses with respect to the estate of an impaired agent under Section 2602.110 .
(c) Repealed by Acts 2009, 81st Leg., R.S., Ch. 1025, Sec. 18, eff. September 1, 2009.
(d) Guaranty fees may be used only for payment of:
(1) claims described by Subsection (b); and
(2) expenses related to:
(A) an audit or an examination conducted by the department or the association under this chapter;
(B) the supervision and coordination of such an audit or examination; and
(C) an action under Section 2602.452 .
(e) The association may advance money from the guaranty fee account as the association considers necessary to provide for the payment of covered claims related to an impaired agent and administrative expenses related to the evaluation and payment of those claims. The advanced money shall be repaid to the guaranty fee account as soon as is practicable with money from guaranty fees or the estate of the impaired agent. No interest may accrue on the advanced money.

Legislative History

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338 ), Sec. 8, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338 ), Sec. 18, eff. September 1, 2009. Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614 ), Sec. 15, eff. September 1, 2019.