Texas § 463.251 IMPAIRED DOMESTIC INSURER.

Texas Statutes

§ 463.251 — IMPAIRED DOMESTIC INSURER.

Texas § 463.251

Code INInsurance Code

This text of Texas § 463.251 (IMPAIRED DOMESTIC INSURER.) 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. § 463.251 (2026).

Text

Sec. 463.251. IMPAIRED DOMESTIC INSURER.

(a)This section applies only to a member insurer that is an impaired domestic insurer.

(b)With the commissioner's approval, the association may:

(1)guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, one or more of the insurer's policies or contracts;

(2)provide money, pledges, notes, guarantees, or other means proper to:

(A)implement Subdivision (1); and

(B)ensure payment of the insurer's contractual obligations until action is taken under Subdivision (1); or

(3)loan money to the insurer.

(c)In taking action under Subsection (b), the association may impose any condition that:

(1)does not impair the insurer's contractual obligations; and

(2)is approved by:

(A)the commissioner; and

(B)the i

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

Sec. 463.251. IMPAIRED DOMESTIC INSURER. (a) This section applies only to a member insurer that is an impaired domestic insurer.
(b) With the commissioner's approval, the association may:
(1) guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, one or more of the insurer's policies or contracts;
(2) provide money, pledges, notes, guarantees, or other means proper to:
(A) implement Subdivision (1); and
(B) ensure payment of the insurer's contractual obligations until action is taken under Subdivision (1); or
(3) loan money to the insurer.
(c) In taking action under Subsection (b), the association may impose any condition that:
(1) does not impair the insurer's contractual obligations; and
(2) is approved by:
(A) the commissioner; and
(B) the insurer, except in a conservation or rehabilitation ordered by a court.

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. 432 (S.B. 1153 ), Sec. 16, eff. September 1, 2019.