Sec. 2602.256. AMOUNT OF COVERED CLAIM; LIMIT. (a) A covered claim under Section 2602.251 or 2602.253 may not exceed the lesser of $500,000 for each claimant or $500,000 for each policy.
(b) A covered claim under Section 2602.252 may not exceed the lesser of $500,000 for each claimant or the amount of money actually received by the impaired title insurance company or agent as trust funds or an escrow account for each claimant in a transaction from which the claim arises, except that the cumulative amount of covered claims arising from a single transaction may not exceed $500,000.
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. 25, 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