Texas Statutes
Subchapter C. General Powers and Duties of Association
Section 463.106. Delegation of Powers and Duties

Sec. 463.106. DELEGATION OF POWERS AND DUTIES. (a) The plan of operation may provide that, on approval of the board and the commissioner, a power or duty of the association is delegated to a corporation or other organization that:
(1) performs in two or more states functions similar to those of the association or the association's equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 463.261(c) or Subchapter D, other than a duty under Section 463.161(c), may not be delegated under this section.
(c) The corporation or other organization to which a power or duty is delegated shall be:
(1) reimbursed for a payment made on behalf of the association; and
(2) paid for performing any other function of the association.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

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