Texas § 981.005 VALIDITY OF CONTRACTS.

Texas Statutes

§ 981.005 — VALIDITY OF CONTRACTS.

Texas § 981.005

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 981.005 (2026).

Text

Sec. 981.005. VALIDITY OF CONTRACTS.

(a)Unless a material and intentional violation of this chapter or Chapter 225 exists, an insurance contract obtained from an eligible surplus lines insurer is:

(1)valid and enforceable as to all parties; and

(2)recognized in the same manner as a comparable contract issued by an authorized insurer.

(b)A material and intentional violation of this chapter or Chapter 225 does not preclude the insured from enforcing the insured's rights under the contract.

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Sec. 981.005. VALIDITY OF CONTRACTS. (a) Unless a material and intentional violation of this chapter or Chapter 225 exists, an insurance contract obtained from an eligible surplus lines insurer is:
(1) valid and enforceable as to all parties; and
(2) recognized in the same manner as a comparable contract issued by an authorized insurer.
(b) A material and intentional violation of this chapter or Chapter 225 does not preclude the insured from enforcing the insured's rights under the contract.

Legislative History

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.125, eff. April 1, 2009.