Sec. 2602.252. CLAIM AGAINST TRUST FUNDS OR ESCROW ACCOUNT. An unpaid claim is a covered claim if the claim:
(1) is:
(A) against trust funds or an escrow account of an impaired title insurance company or agent; or
(B) for money received by an impaired title insurance company, the company's agent, or an authorized agent of the company's agent for deposit into a trust fund or an escrow account; and
(2) is unpaid because of a shortage of those funds or in that account, including a shortage that exists because the money was not deposited by the impaired title insurance company or the company's agent in the fund or account.
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. 23, 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