Texas § 463.257 IMPOSITION OF LIEN OR MORATORIUM.

Texas Statutes

§ 463.257 — IMPOSITION OF LIEN OR MORATORIUM.

Texas § 463.257

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 463.257 (2026).

Text

Sec. 463.257. IMPOSITION OF LIEN OR MORATORIUM. To carry out the association's duties under this chapter and with the court's approval, the association may:

(1)impose a permanent policy or contract lien in connection with any guarantee, assumption, or reinsurance agreement if the association determines that:

(A)the amounts that may be assessed under this chapter are insufficient to ensure full and prompt performance of the association's duties under this chapter; or

(B)adverse economic or financial conditions affecting member insurers make imposition of the lien in the public interest; or

(2)in addition to any contractual provision for deferral of cash or policy loan value, impose a temporary moratorium or lien on payment of cash values and policy loans or the exercise of any other rig

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Sec. 463.257. IMPOSITION OF LIEN OR MORATORIUM. To carry out the association's duties under this chapter and with the court's approval, the association may:
(1) impose a permanent policy or contract lien in connection with any guarantee, assumption, or reinsurance agreement if the association determines that:
(A) the amounts that may be assessed under this chapter are insufficient to ensure full and prompt performance of the association's duties under this chapter; or
(B) adverse economic or financial conditions affecting member insurers make imposition of the lien in the public interest; or
(2) in addition to any contractual provision for deferral of cash or policy loan value, impose a temporary moratorium or lien on payment of cash values and policy loans or the exercise of any other right to withdraw money held in connection with a policy or contract.