Sec. 2602.251. COVERED CLAIMS IN GENERAL. An unpaid claim is a covered claim if:
(1) the claim is made by an insured under a title insurance policy to which this chapter applies;
(2) the claim arises out of the policy and is within the coverage and applicable limits of the policy, subject to all applicable policy provisions and defenses available under the policy and applicable law;
(3) the title insurance company that issued the policy or assumed the policy under an assumption certificate is an impaired title insurance company; and
(4) the insured real property or a lien on the property is located in this state.
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. 22, eff. September 1, 2019.
Structure Texas Statutes
Subtitle C - Financial Solvency
Chapter 2602 - Texas Title Insurance Guaranty Association
Section 2602.251. Covered Claims in General
Section 2602.252. Claim Against Trust Funds or Escrow Account
Section 2602.253. Claim in Connection With Fidelity of Agent
Section 2602.254. Certain Conservator and Receiver Expenses Covered
Section 2602.255. Claims Not Covered
Section 2602.256. Amount of Covered Claim; Limit
Section 2602.257. Exhaustion of Other Rights Required
Section 2602.258. Certain Money Authorized for Use in Paying Covered Claim; Limit
Section 2602.259. Stay of Proceedings; Certain Decisions Not Binding