Sec. 2213.052. CREATION OF SAVINGS AND LOAN SELF-INSURANCE TRUST; COVERAGE. (a) Two or more savings and loan associations that have their principal offices located in this state may create a savings and loan self-insurance trust to provide insurance and indemnity coverage for the savings and loan self-insurance trust's members and the officers and directors of the savings and loan self-insurance trust's members.
(b) Insurance and indemnity coverage provided by the savings and loan self-insurance trust is limited to savings and loan blanket bonds covering losses resulting from:
(1) dishonest acts and criminal acts of employees; or
(2) robbery.
(c) The trustees shall determine, according to the plan, the amount of coverage to be provided to a savings and loan association participating in the savings and loan self-insurance trust.
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 2213 - Self-Insurance Trusts for Banks and Savings and Loan Associations
Subchapter B. Creation and Operation of Self-Insurance Trust
Section 2213.051. Creation of Bank Self-Insurance Trust; Coverage
Section 2213.052. Creation of Savings and Loan Self-Insurance Trust; Coverage
Section 2213.053. Plan of Organization and Operation; Trustees
Section 2213.054. Minimum Requirements; Commissioner Supervision