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Tex. Ins. Code § 462.156

USE OF ASSESSMENTS

Known as the Texas Property and Casualty Insurance Guaranty Act

The act spans §§ 462–462 (90 sections).

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff

(a) The amounts provided under assessments made under this chapter supplement the marshalling of assets by the receiver under Chapter 442 to make payments on the impaired insurer's behalf.

(b) This section does not require the receiver to exhaust the assets of the impaired insurer before an assessment is made or before money derived from an assessment may be used to pay covered claims.

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