Sec. 541.454. PENALTIES AND RELATED PAYMENTS BY INSURER. (a) Civil penalties, premium refunds, judgments, compensatory judgments, individual recoveries, orders, class action awards, costs, damages, or attorney's fees assessed or awarded under this chapter:
(1) may be paid only from the capital or surplus funds of the offending insurer; and
(2) may not take precedence over, be in priority to, or in any other manner apply to:
(A) Chapter 462 or 463 or any other insurance guaranty act; or
(B) Chapter 422.
(b) The statutes described by Subsection (a)(2) and the priorities of funds created by those statutes are exempt from the provisions of this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2D.006, eff. April 1, 2009.
Structure Texas Statutes
Title 5 - Protection of Consumer Interests
Subtitle C - Deceptive, Unfair, and Prohibited Practices
Chapter 541 - Unfair Methods of Competition and Unfair or Deceptive Acts or Practices
Subchapter J. Construction of Chapter With Other Laws
Section 541.451. Liability Under Other Law
Section 541.452. Powers in Addition to Other Powers Authorized by Law