Sec. 462.156. USE OF ASSESSMENTS. (a) The amounts provided under assessments made under this chapter supplement the marshalling of assets by the receiver under Chapter 442 to make payments on the impaired insurer's behalf.
(b) This section does not require the receiver to exhaust the assets of the impaired insurer before an assessment is made or before money derived from an assessment may be used to pay covered claims.
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 D. Assessments in General
Section 462.151. Making of Assessment; Amount
Section 462.152. Maximum Total Assessment
Section 462.153. Refund of Contribution
Section 462.154. Notice of Assessment
Section 462.156. Use of Assessments
Section 462.158. Advance as Loan
Section 462.159. Estimate of Additional Money Needed on Impairment of Insurer
Section 462.160. Assessment for Additional Money for Accounts
Section 462.161. Amount of Assessment; Proration of Payment
Section 462.163. Payment of Assessment
Section 462.164. Participation Receipts
Section 462.165. Accounting; Reports; Refund
Section 462.166. Use of Excess Money in Account