Sec. 462.002. PURPOSES. The purposes of this chapter are to:
(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;
(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;
(3) assist in the detection and prevention of insurer insolvencies; and
(4) provide an association to assess the cost of that protection among insurers.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle D - Guaranty Associations
Chapter 462 - Texas Property and Casualty Insurance Guaranty Association
Subchapter A. General Provisions
Section 462.004. General Definitions
Section 462.005. Description of Control
Section 462.006. Net Direct Written Premiums
Section 462.007. Applicability in General; Exceptions
Section 462.008. Applicability to Texas Mutual Insurance Company
Section 462.010. Conflict With Other Laws
Section 462.011. Immunity in General
Section 462.012. Immunity in Relation to Certain Reports and Recommendations
Section 462.013. Immunity in Relation to Certain Negotiations
Section 462.015. Information Provided by or to Commissioner
Section 462.016. Penalty for Failure to Pay Assessments or Comply With Plan of Operation