Sec. 463.262. EFFECT OF SUBROGATION AND ASSIGNMENT OF RIGHTS AND AVAILABLE ASSETS ON ASSOCIATION OBLIGATION. (a) The limitations set forth in this chapter are limitations on the benefits for which the association is obligated before taking into account either the association's subrogation and assignment rights or the extent to which those benefits could be provided out of the assets of the impaired or insolvent insurer attributable to covered policies.
(b) The costs of the association's obligations under this chapter may be met by the use of assets attributable to covered policies or reimbursed to the association pursuant to the association's subrogation and assignment rights.
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.018(e), eff. September 1, 2007.
Added by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.018(e), eff. September 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle D - Guaranty Associations
Chapter 463 - Texas Life and Health Insurance Guaranty Association
Subchapter F. Powers and Duties of Association Relating
Section 463.251. Impaired Domestic Insurer
Section 463.252. Impaired Domestic, Foreign, or Alien Insurer Not Paying Claims
Section 463.253. Insolvent Insurer
Section 463.254. Life or Health Insurance Policies or Contracts
Section 463.255. Policy or Contract With Guaranteed Interest Rate
Section 463.256. Alternative Policy
Section 463.257. Imposition of Lien or Moratorium
Section 463.258. Premium for Reissuance of Terminated Coverage
Section 463.259. Premium Due During Receivership
Section 463.260. Limits on and Termination of Association Obligation
Section 463.261. Assignment of Rights