Sec. 2602.258. CERTAIN MONEY AUTHORIZED FOR USE IN PAYING COVERED CLAIM; LIMIT. (a) Money from assessments or guaranty fees is liable only for the difference between the amount of covered claims and the amount of assets marshalled by a receiver or conservator for payment to holders of covered claims.
(b) In an ancillary receivership in this state, money from assessments is liable only for the difference between the amount of covered claims and the amount of assets marshalled by receivers in other states for payment of covered claims in this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
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