Sec. 2210.6165. PROPERTY RIGHTS. If public securities issued under this subchapter are outstanding, the rights and interests of the association, a successor to the association, any member of the association, or any member of the Texas FAIR Plan Association, including the right to impose, collect, and receive a premium surcharge authorized under this subchapter, are only contract rights until those revenues are first pledged for the repayment of the association's public security obligations as provided by Section 2210.609.
Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 54, eff. September 28, 2011.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 29, eff. September 1, 2015.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2210 - Texas Windstorm Insurance Association
Subchapter M. Public Securities Program
Section 2210.603. Applicability of Other Laws
Section 2210.604. Issuance of Public Securities Authorized
Section 2210.605. Terms of Issuance
Section 2210.606. Additional Covenants
Section 2210.607. Public Security Proceeds
Section 2210.608. Use of Public Security Proceeds
Section 2210.609. Repayment of Association's Public Security Obligations
Section 2210.610. Public Security Payments
Section 2210.611. Excess Revenue Collections and Investment Earnings
Section 2210.612. Payment of Class 1 Public Securities
Section 2210.613. Payment of Class 2 Public Securities
Section 2210.6131. Payment of Class 3 Public Securities
Section 2210.6132. Contingent Source of Payment for Class 2 and Class 3 Public Securities
Section 2210.614. Refinancing Public Securities
Section 2210.615. Source of Payment; State Debt Not Created
Section 2210.616. State Not to Impair Public Security Obligations
Section 2210.6165. Property Rights
Section 2210.617. Enforcement by Mandamus
Section 2210.618. Exemption From Taxation