Texas § 462.310 SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.

Texas Statutes

§ 462.310 — SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.

Texas § 462.310

Code INInsurance Code

This text of Texas § 462.310 (SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.) 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. § 462.310 (2026).

Text

Sec. 462.310. SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.

(a)The settlement of a covered claim by the association or a similar organization in another state binds the receiver or statutory successor of an impaired insurer.

(b)The court having jurisdiction shall give the covered claim the same priority against assets of the impaired insurer that the claim would have had in the absence of this chapter.

(c)The expenses of the association or a similar organization in another state in handling claims have the same priority as the receiver's expenses.

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Sec. 462.310. SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES. (a) The settlement of a covered claim by the association or a similar organization in another state binds the receiver or statutory successor of an impaired insurer.
(b) The court having jurisdiction shall give the covered claim the same priority against assets of the impaired insurer that the claim would have had in the absence of this chapter.
(c) The expenses of the association or a similar organization in another state in handling claims have the same priority as the receiver's expenses.