reglab/housing_qa huggingface dataset:
TX Ins Code § 2602.401 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter I. Operation of Impaired Title Insurance Company or Agent|Section 2602.401. Issuance or Renewal of Policies

Sec. 2602.401.  ISSUANCE OR RENEWAL OF POLICIES.  (a)  If an assessment has been made under this chapter for an impaired title insurance company or association funds have been provided for the company, the company, on release from the supervision, rehabilitation, conservatorship, receivership,  or other proceeding in which the company was found by a court of competent jurisdiction to be insolvent or otherwise unable to pay obligations as they come due, may not issue a new or renewal insurance policy until the company:(1)  has repaid pro rata in full to each holder of a participation receipt the assessment amount paid by the receipt holder or its assignee; and(2)  has repaid in full the amount of guaranty fees paid by the association.(b)  If an assessment has been made under this chapter for an impaired agent or guaranty fees have been provided for the impaired agent, the agent, on release from the supervision, conservatorship, rehabilitation, receivership, or other proceeding in which the agent was found by a court of competent jurisdiction to be insolvent or otherwise unable to pay obligations as they come due, subject to dischargeability, may not act as an agent until the agent has repaid in full the amount of guaranty fees paid by the association.(c)  Notwithstanding Subsections (a) and (b), on application of the association and after hearing, the commissioner may permit the impaired title insurance company or agent to issue new policies as provided by a plan of operation for repayment.  In approving the plan, the commissioner may restrict the issuance of new or renewal policies as the commissioner considers necessary to implement the plan.(d)  Not later than the 11th day before the date of a hearing under Subsection (c), the commissioner shall give notice of the hearing to the association.  The commissioner shall give 10 days' notice of the hearing to title insurance companies to whom participation receipts were issued for an assessment made for the benefit of the released title insurance company.  The association and title insurance companies are entitled to appear at and participate in the hearing.(e)  Money recovered against an impaired title insurance company under this section shall be repaid to the title insurance companies that paid assessments in relation to the impaired title insurance company on return of the participation receipt.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 9, eff. September 1, 2009.|
TX Ins Code § 2602.402 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter I. Operation of Impaired Title Insurance Company or Agent|Section 2602.402. Distributions to Shareholders and Affiliates

Sec. 2602.402.  DISTRIBUTIONS TO SHAREHOLDERS AND AFFILIATES.  (a)  An impaired or insolvent title insurance company may not make a distribution to shareholders until the association has recovered the total amount of valid claims for money spent in exercising the association's powers and performing the association's duties under this chapter with respect to that company, plus interest on that amount.(b)  Except as otherwise provided by this section, the receiver appointed under an order of receivership of a title insurance company domiciled in this state may recover on behalf of the company from an affiliate that controlled the company the amount of a distribution, other than a stock dividend the company paid on its capital stock, made during the five years preceding the date of the petition for liquidation or rehabilitation.(c)  A person who was an affiliate that controlled the title insurance company when the distribution described by Subsection (b) was paid is liable for the amount of the distribution received.  A person who was an affiliate that controlled the title insurance company when the distribution was declared is liable for the amount of the distribution the affiliate would have received if the distribution had been paid immediately.  Two or more persons liable for the same distribution are jointly and severally liable.  If a person liable under this subsection is insolvent, all of the affiliates that controlled the insolvent person when the distribution was paid are jointly and severally liable for any resulting deficiency in the amount recovered from the insolvent person.(d)  The maximum amount recoverable under Subsections (b) and (c) is the amount needed in excess of all other available assets of the insolvent title insurance company to pay the company's contractual obligations.(e)  The receiver may not recover a distribution under Subsection (b) if the title insurance company shows that:(1)  the distribution was lawful and reasonable on the date of payment;  and(2)  the company did not know and could not reasonably have known that the distribution might adversely affect the ability of the company to fulfill its contractual obligations.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.079, eff. September 1, 2005.|
TX Ins Code § 2602.403 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter I. Operation of Impaired Title Insurance Company or Agent|Section 2602.403. Assets Attributable to Covered Policies

Sec. 2602.403.  ASSETS ATTRIBUTABLE TO COVERED POLICIES.  (a)  For the purposes of this section, assets attributable to covered policies are the proportion of the assets that the reserves that should have been established for the covered policies bear to the reserves that should have been established for all insurance policies written by the impaired or insolvent title insurance company.(b)  To perform its obligations under this chapter, the association is considered a creditor of the impaired or insolvent title insurance company to the extent of assets attributable to covered policies, less any amount that the association recovers as a subrogee under this chapter.(c)  Assets of the impaired or insolvent title insurance company attributable to covered policies shall be used to continue all covered policies and pay all contractual obligations of the impaired or insolvent company as required by this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.451 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter J. Additional Duties of Association|Section 2602.451. Applicability

Sec. 2602.451.  APPLICABILITY.  This subchapter applies, at the commissioner's discretion and regardless of whether there are covered claims against an agent, to any agent that is designated by the commissioner as an impaired agent.|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 10, eff. September 1, 2009.|
TX Ins Code § 2602.452 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter J. Additional Duties of Association|Section 2602.452. Actions for Certain Agents

Sec. 2602.452.  ACTIONS FOR CERTAIN AGENTS.  (a)  The commissioner may direct the association, at the association's expense and on behalf of an impaired agent, to:(1)  close real estate transactions;(2)  disburse escrow funds;(3)  record documents; and(4)  issue final title insurance policies.(b)  The association may employ or retain a person or persons to perform any action required under Subsection (a), in accordance with Section 2602.103(a).|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 10, eff. September 1, 2009.Amended by: Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 30, eff. September 1, 2019.|
TX Ins Code § 2602.453 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter J. Additional Duties of Association|Section 2602.453. Authority of Association; Cooperation of Officers, Owners, and Employees

Sec. 2602.453.  AUTHORITY OF ASSOCIATION; COOPERATION OF OFFICERS, OWNERS, AND EMPLOYEES.  (a)  On the direction of the commissioner under Section 2602.452, the association may implement any direction made by the commissioner and may access all books, records, accounts, networks, and electronic document storage and management systems as necessary to implement the commissioner's direction.(b)  Any present or former officer, manager, director, trustee, owner, employee, or agent of the agent, or any other person with authority over or in charge of any segment of the agent's affairs, shall cooperate with the association.  For purposes of this subsection:(1)  "Person" includes a person who exercised or exercises control directly or indirectly over activities of the agent through a holding company or other affiliate of the agent.(2)  "Cooperate" means:(A)  replying promptly in writing to any request for information from the association within the period established in the request; and(B)  making available to the association any books, accounts, documents, or other records or information of, or relating to, the agent within the period set in the request.(c)  A person who fails to cooperate as required under Subsection (b) is subject to sanctions under Chapter 82, in addition to all other sanctions available under law.|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 10, eff. September 1, 2009.|
TX Ins Code § 2651.001 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.001. License and Bond or Deposit Required

Sec. 2651.001.  LICENSE AND BOND OR DEPOSIT REQUIRED.  (a)  An individual, firm, association, or corporation may not act in this state as a title insurance agent for a title insurance company unless the individual or entity:(1)  holds a license as an agent issued by the department;  and(2)  maintains a surety bond or deposit required under Subchapter C.(b)  A title insurance company may not allow or permit an individual, firm, association, or corporation to act as its agent in this state unless the individual or entity complies with this section.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.002 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.002. License Application

Sec. 2651.002.  LICENSE APPLICATION.  (a)  Before an initial license is issued to an individual, firm, association, or corporation to act as an agent in this state for a title insurance company, the company must file an application for an agent's license with the department on forms provided by the department.(b)  The application must be:(1)  accompanied by a nonrefundable license fee;  and(2)  signed and sworn to by the title insurance company and by the proposed agent.(c)  The completed application must state that:(1)  the proposed agent is:(A)  an individual who is a bona fide resident of this state;(B)  an association or firm composed only of Texas residents; or(C)  a Texas corporation or a foreign corporation authorized to engage in business in this state;(2)  the proposed agent  has unencumbered assets in excess of liabilities, exclusive of the value of abstract plants, as required by Section 2651.012;(3)  the proposed agent, including a corporation's managerial personnel, if applicable, has reasonable experience or instruction in the field of title insurance;(4)  the title insurance company:(A)  knows that the proposed agent has a good business reputation and is worthy of the public trust; and(B)  is unaware of any fact or condition that disqualifies the proposed agent from receiving a license; and(5)  the proposed agent qualifies as a title insurance agent under this chapter.(d)  Except as provided by Section 2651.0021(e), an agent applying for an initial license under this subchapter must provide evidence that the agent and its management personnel have successfully completed a professional training program that complies with Section 2651.0021. The program must have been completed within one year preceding the date of application.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 11, eff. September 1, 2009.|
TX Ins Code § 2651.0021 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.0021. Professional Training Program

Sec. 2651.0021.  PROFESSIONAL TRAINING PROGRAM.  (a)  The commissioner shall adopt by rule a professional training program for a title insurance agent and the management personnel of the title insurance agent.(b)  The professional training program must be designed to provide information regarding:(1)  the basic principles and coverages related to title insurance;(2)  recent and prospective changes in those principles and coverages;(3)  applicable rules and laws;(4)  proper conduct of the license holder's title insurance business;(5)  accounting principles and practices and financial responsibilities and practices relevant to title insurance; and(6)  the duties and responsibilities of a title insurance agent.(c)  Professional training program hours may be used to satisfy the continuing education requirements established under Section 2651.204.(d)  A professional training program course must be offered by:(1)  a statewide title insurance association, statewide title agents' association or professional association, or local chapter of a statewide title insurance or title agents' association or professional association;(2)  an accredited college or university;(3)  a career school or college as defined by Section 132.001, Education Code;(4)  the State Bar of Texas;(5)  an educational publisher;(6)  a title insurance company authorized to engage in business in this state;(7)  a company that owns one or more title insurance companies authorized to engage in business in this state;(8)  a public school system in this state; or(9)  an individual accredited as an instructor by an entity described by Subdivisions (1)-(8).(e)  An individual is exempt from the professional training requirement of this section if the individual has held in this state for at least five years a position as management personnel with a title insurance agent, or a comparable position, as determined under rules adopted by the commissioner.|Added by Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 12, eff. September 1, 2009.|
TX Ins Code § 2651.003 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.003. License and Renewal Fees

Sec. 2651.003.  LICENSE AND RENEWAL FEES.  (a)  The department shall prescribe the license fee in an amount not to exceed $50.(b)  License fees, and renewal fees collected under this subchapter, shall be deposited to the credit of the Texas Department of Insurance operating account to be used by the department to enforce this chapter and any other law of this state that regulates title insurance agents.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.004 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.004. License Issuance

Sec. 2651.004.  LICENSE ISSUANCE.  The department shall issue a license if the department determines, based on the application and the department's investigation, that the requirements of Section 2651.002 are satisfied.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.005 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.005. Duplicate License

Sec. 2651.005.  DUPLICATE LICENSE.  (a)  The department shall collect in advance a fee from a title insurance agent who requests a duplicate license.(b)  The department shall prescribe the fee in an amount not to exceed $20.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.006 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.006. License Term

Sec. 2651.006.  LICENSE TERM.  Unless a system of staggered license renewal is adopted under Section 4003.002, a license issued under this subchapter expires on June 1 after the second anniversary of the date of issuance.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.007 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.007. License Renewal

Sec. 2651.007.  LICENSE RENEWAL.  (a)  A title insurance agent may renew a license by:(1)  filing a completed license renewal application form with the department;  and(2)  paying the nonrefundable license renewal fee to the department.(b)  The department shall prescribe the license renewal application form.(c)  The department shall prescribe the license renewal fee in an amount not to exceed $50.(d)  Not later than the 20th business day after the date the department receives a renewal application, the department shall notify the applicant in writing of any deficiencies in the application that render the renewal application incomplete.(e)  Not later than the fifth business day after the date the renewal application is complete, the department shall notify the applicant in writing of the date that the renewal application is complete.(f)  A renewal application is automatically approved on the 30th business day after the date the renewal application is complete, unless on or before that date the department notifies the applicant in writing of the factual grounds on which the department proposes to deny the license under Section 2651.301.(g)  The department may provide a notice required under this section by e-mail.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1011 (H.B. 2408), Sec. 3, eff. September 1, 2011.|
TX Ins Code § 2651.008 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.008. Records of Agents

Sec. 2651.008.  RECORDS OF AGENTS.  The department shall maintain a record of the name and address of each title insurance agent licensed by the department in a manner that ensures that the agents appointed by any company authorized to engage in the business of title insurance in this state may be conveniently ascertained and inspected by any person on request.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.010 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.010. Suspension of License

Sec. 2651.010.  SUSPENSION OF LICENSE.  The department shall suspend the license of a title insurance agent during any period in which the agent does not have a valid appointment.  The department shall end the suspension when the department receives an acceptable notice of a valid appointment.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2651.011 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle D - Title Insurance Professionals|Chapter 2651 - Title Insurance Agents and Direct Operations|Subchapter A. Title Insurance Agent's License|Section 2651.011. Privileged Communications; Financial Information

Sec. 2651.011.  PRIVILEGED COMMUNICATIONS; FINANCIAL INFORMATION.  (a)  Any information, including a document, record, or statement, and including information provided to or received from the commissioner under Subsection (b) or (c), or any other information required or permitted to be made or disclosed to or by the department under this subchapter, other than Section 2651.001, is not public information subject to Chapter 552, Government Code, except to the extent described by Subsection (b), and is a privileged communication and may not be disclosed to the public except as evidence in an administrative hearing or proceeding.  This subsection does not apply to a document, record, or statement required to be made or disclosed to the department under Chapter 36.(b)  A title insurance company may provide information to the commissioner about a financial matter that would reasonably call into question the solvency of a title agent that the title insurance company appointed.  Each title insurance company shall provide annually to the department a list of officers authorized to provide to the department the information under this subsection. Information provided under this subsection is not subject to Chapter 552, Government Code, except that the commissioner may release information that the commissioner received under this subsection to a title insurance company that has appointed, or that is considering appointing, the title agent.  The commissioner may also release information that the commissioner received under this subsection to a title agent under Section 2651.206, Insurance Code, if the information is evidence on which an audit report or examination report relies.  A title insurance company that receives information under this subsection may not release the information except under a subpoena issued by a court of competent jurisdiction.(c)  Each title insurance agent shall provide the department, on a quarterly basis, with a copy of the agent's quarterly withholding tax report furnished by the agent to the United States Internal Revenue Service. The title insurance agent must also provide to the department proof of the payment of the tax.  An agent that does not have employees shall certify to the department on a quarterly basis that there has not been a material change in the agent's financial condition.(d)  The commissioner by rule may prescribe the types of information under Subsections (b) and (c) that are privileged under Subsection (a).|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 13, eff. September 1, 2009.|For contingent effect of this section, see Subsection (j).For expiration of Subsections (g) and (i), see Subsection (i).