Sec. 462.159. ESTIMATE OF ADDITIONAL MONEY NEEDED ON IMPAIRMENT OF INSURER. (a) If the commissioner determines that an insurer has become an impaired insurer, the association shall promptly estimate the amount of additional money, by lines of business, needed to supplement the immediately available assets of the impaired insurer to pay covered claims.
(b) The board shall make additional money available as the actual need arises for each impaired insurer.
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