Sec. 2602.111. DELEGATION OF POWERS AND DUTIES. (a) The plan of operation may provide that, on approval of the board, a power or duty of the association may be delegated to a corporation or other organization that:
(1) performs or will perform in two or more states functions similar to those of the association or its equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 2602.101(a)(1) or (4), 2602.107, 2602.201, 2602.202, 2602.203, or 2602.205 may not be delegated under this section.
(c) The corporation or other organization shall be:
(1) reimbursed as a servicing facility would be reimbursed; and
(2) paid for its performance of any other functions of the association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 12, eff. September 1, 2019.
Structure Texas Statutes
Subtitle C - Financial Solvency
Chapter 2602 - Texas Title Insurance Guaranty Association
Subchapter C. General Powers and Duties of Association
Section 2602.101. General Powers and Duties
Section 2602.102. Plan of Operation
Section 2602.103. Employees and Experts
Section 2602.104. Association Records
Section 2602.105. Meeting by Conference Call
Section 2602.107. Administrative Expenses
Section 2602.108. Deposit of Fees and Assessments
Section 2602.109. Use of Excess Money in Accounts
Section 2602.110. Expenses of Administering Impaired Insurer or Impaired Agent
Section 2602.111. Delegation of Powers and Duties
Section 2602.112. Exemption From Taxation
Section 2602.113. Detection and Prevention of Impairment
Section 2602.114. Meeting of Board on Impaired Title Insurance Company or Agent
Section 2602.115. Association and Board Advice and Assistance