Sec. 2210.0715. PAYMENT FROM RESERVES AND TRUST FUND. (a) The association shall pay losses resulting from an occurrence or series of occurrences in a catastrophe year in excess of premium and other revenue of the association for that catastrophe year from reserves of the association available before or accrued during that catastrophe year and amounts in the catastrophe reserve trust fund available before or accrued during that catastrophe year.
(b) Proceeds of public securities issued or assessments made before or as a result of any occurrence or series of occurrences in a catastrophe year that results in insured losses may not be included in reserves available for a subsequent catastrophe year for purposes of this section.
Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 5, eff. September 1, 2015.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 2, eff. June 10, 2019.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2210 - Texas Windstorm Insurance Association
Subchapter B. -1. Payment of Losses
Section 2210.071. Payment of Excess Losses
Section 2210.0715. Payment From Reserves and Trust Fund
Section 2210.072. Payment From Class 1 Public Securities; Financial Instruments
Section 2210.0725. Payment From Class 1 Assessments
Section 2210.073. Payment From Class 2 Public Securities
Section 2210.074. Payment Through Class 2 Assessments
Section 2210.0741. Payment Through Class 3 Public Securities