Sec. 2201.205. RISK RETENTION GROUP PARTICIPATION IN INSOLVENCY GUARANTY FUND PROHIBITED. A risk retention group may not be required or permitted to join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this state. A risk retention group, and any of the group's insureds or claimants against an insured, may not receive any benefit from an insurance insolvency guaranty fund or similar mechanism in this state for a claim arising under an insurance policy issued by the group.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2201 - Risk Retention Groups and Purchasing Groups
Subchapter E. Provisions Regulating General Operation
Section 2201.201. Scope of Authority
Section 2201.202. Plan of Operation
Section 2201.203. Agent to Verify Authority
Section 2201.204. Applicability of Certain Requirements for Liability Insurers
Section 2201.205. Risk Retention Group Participation in Insolvency Guaranty Fund Prohibited
Section 2201.206. Required Notice
Section 2201.207. Prohibited Activities