Texas § 462.304 SERVICING FACILITY.

Texas Statutes

§ 462.304 — SERVICING FACILITY.

Texas § 462.304

Code INInsurance Code

This text of Texas § 462.304 (SERVICING FACILITY.) 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. § 462.304 (2026).

Text

Sec. 462.304. SERVICING FACILITY.

(a)The association shall handle claims through:

(1)the association's employees or contract claims adjusters; or

(2)subject to the approval of the commissioner, one or more insurers designated as a servicing facility under a servicing agreement or loss portfolio transfer agreement.

(b)A member insurer may decline designation as a servicing facility.

(c)The association shall reimburse a servicing facility for obligations of the association paid by the facility and expenses incurred by the facility in handling claims for the association. The association shall reimburse a servicing facility under this subsection in a manner that is consistent with the applicable servicing agreement or loss portfolio agreement.

(d)The commissioner may revoke the designati

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Sec. 462.304. SERVICING FACILITY. (a) The association shall handle claims through:
(1) the association's employees or contract claims adjusters; or
(2) subject to the approval of the commissioner, one or more insurers designated as a servicing facility under a servicing agreement or loss portfolio transfer agreement.
(b) A member insurer may decline designation as a servicing facility.
(c) The association shall reimburse a servicing facility for obligations of the association paid by the facility and expenses incurred by the facility in handling claims for the association. The association shall reimburse a servicing facility under this subsection in a manner that is consistent with the applicable servicing agreement or loss portfolio agreement.
(d) The commissioner may revoke the designation of a servicing facility if the commissioner finds that servicing facility is handling claims unsatisfactorily.

Legislative History

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. Amended by: Acts 2019, 86th Leg., R.S., Ch. 343 (S.B. 1063 ), Sec. 7, eff. September 1, 2019.