Texas § 493.154 TERMS OF TRUST.

Texas Statutes

§ 493.154 — TERMS OF TRUST.

Texas § 493.154

Code INInsurance Code

This text of Texas § 493.154 (TERMS OF TRUST.) 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. § 493.154 (2026).

Text

Sec. 493.154. TERMS OF TRUST.

(a)The trust instrument must provide that contested claims are valid and enforceable on the final order of any court in the United States.

(b)The trust must vest legal title to the trust's assets in the trustees of the trust for:

(1)the trust's United States policyholders and ceding insurers; and

(2)the policyholders' and ceding insurers' assigns and successors in interest.

(c)The trust must remain in effect as long as the assuming insurer has outstanding obligations under a reinsurance contract subject to the trust.

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Sec. 493.154. TERMS OF TRUST. (a) The trust instrument must provide that contested claims are valid and enforceable on the final order of any court in the United States.
(b) The trust must vest legal title to the trust's assets in the trustees of the trust for:
(1) the trust's United States policyholders and ceding insurers; and
(2) the policyholders' and ceding insurers' assigns and successors in interest.
(c) The trust must remain in effect as long as the assuming insurer has outstanding obligations under a reinsurance contract subject to the trust.