Money advanced by the association under this chapter is considered a special fund loan to the impaired insurer for payment of covered claims and does not become an asset of the impaired insurer. The loan is repayable to the extent money from the impaired insurer is available.
Tex. Ins. Code § 462.158
ADVANCE AS LOAN
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
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.