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Tex. Ins. Code § 2602.201

MAKING OF ASSESSMENT

Known as the Texas Title Insurance Guaranty Act

The act spans §§ 2602.001 to 2602.453 (80 sections).

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff

(a) If the commissioner determines that a title insurance company has become impaired, the association shall promptly estimate the amount of additional money needed to supplement the assets of the impaired title insurance company to pay all covered claims and administrative expenses, including expenses related to processing and payment of the claims.

(b) The association shall assess title insurance companies in writing an amount as determined under Section 2602.202. A title insurance company does not incur real or contingent liability under this chapter until the association actually makes the written assessment.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.