reglab/housing_qa huggingface dataset:
TX Ins Code § 2551.301 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter G. Liability and Reinsurance|Section 2551.301. Maximum Policy Liability

Sec. 2551.301.  MAXIMUM POLICY LIABILITY.  (a)  Except as provided by Subsection (b), a title insurance company may issue a title insurance policy on any real property located in this state involving a potential policy liability of not more than 50 percent of the sum of the company's surplus as regards policyholders and the company's statutory premium reserves as stated in the most recent annual statement of the company.(b)  A title insurance company may exceed the limit described by Subsection (a) if the excess liability is reinsured in due course in accordance with Section 2551.302, 2551.305, or 2551.3055.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 1, eff. September 1, 2015.|
TX Ins Code § 2551.302 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter G. Liability and Reinsurance|Section 2551.302. Requirements for Reinsuring Policies

Sec. 2551.302.  REQUIREMENTS FOR REINSURING POLICIES.  A title insurance company may reinsure any of its policies and contracts issued on real property located in this state or on policies and contracts issued in this state under Chapter 2751, if:(1)  the reinsuring title insurance company is authorized to engage in business in this state under this title; or(2)  the title insurance company acquires reinsurance in accordance with Section 2551.305 or 2551.3055.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 543 (S.B. 1153), Sec. 6, eff. September 1, 2007.Acts 2011, 82nd Leg., R.S., Ch. 1059 (S.B. 322), Sec. 2, eff. September 1, 2011.Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 2, eff. September 1, 2015.|
TX Ins Code § 2551.304 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter G. Liability and Reinsurance|Section 2551.304. Acceptance of Reinsurance

Sec. 2551.304.  ACCEPTANCE OF REINSURANCE.  A title insurance company may accept a reinsurance risk on real property located in this state or on interests described by Section 2751.002(2) only from an authorized title insurance company.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 543 (S.B. 1153), Sec. 7, eff. September 1, 2007.|
TX Ins Code § 2551.305 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter G. Liability and Reinsurance|Section 2551.305. Reinsurance From Non-Admitted Title Insurer

Sec. 2551.305.  REINSURANCE FROM NON-ADMITTED TITLE INSURER.  Notwithstanding any other provision of this subchapter, a title insurance company may acquire reinsurance on an individual policy or facultative basis from a title insurance company not authorized to engage in the business of title insurance in this state if the title insurance company from which the reinsurance is acquired:(1)  has a combined capital and surplus of at least $20 million as stated in the company's most recent annual statement preceding the acceptance of reinsurance; and(2)  is domiciled in another state and is authorized to engage in the business of title insurance in one or more states.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1059 (S.B. 322), Sec. 3, eff. September 1, 2011.Acts 2013, 83rd Leg., R.S., Ch. 1056 (H.B. 3106), Sec. 2, eff. September 1, 2013.Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 3, eff. September 1, 2015.|
TX Ins Code § 2551.3055 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter G. Liability and Reinsurance|Section 2551.3055. Reinsurance From Insurer Other Than Title Insurer

Sec. 2551.3055.  REINSURANCE FROM INSURER OTHER THAN TITLE INSURER.  Notwithstanding any other provision of this subchapter, a title insurance company may obtain reinsurance by a reinsurance treaty or other reinsurance agreement from an assuming insurer with a financial strength rating of B+ or better from the A. M. Best Company, which reinsurance meets the requirements of Subchapter C, Chapter 493, if the title insurance company has provided the department with notice that:(1)  contains representations that the title insurance company was unable after diligent effort to procure sufficient reinsurance from another title insurance company; and(2)  summarizes the terms of the reinsurance treaty or other reinsurance agreement that the title insurance company will obtain.|Added by Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 3, eff. September 1, 2015.|
TX Ins Code § 2551.351 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter H. Enforcement and Intervention|Section 2551.351. Forfeiture of Right to Engage in Business

Sec. 2551.351.  FORFEITURE OF RIGHT TO ENGAGE IN BUSINESS.  (a)  A foreign or domestic corporation forfeits any right to engage in business in this state if the corporation:(1)  issues any form of title insurance policy, or any other adopted or approved form, on real property in this state other than a form prescribed by the department;(2)  charges any premium rate on an owner, mortgagee, or other title insurance policy, or on any other adopted or approved form, on real property in this state other than a premium rate prescribed by the commissioner;  or(3)  otherwise engages in the business of title insurance in relation to real property in this state on a form or for a premium rate not prescribed by the department or commissioner.(b)  This section does not apply to a premium rate charged in connection with a reinsurance transaction between two or more title insurance companies, provided that the reinsurance contract complies with Subchapter G.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2551.352 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter H. Enforcement and Intervention|Section 2551.352. Revocation of Permit and Forfeiture of Charter

Sec. 2551.352.  REVOCATION OF PERMIT AND FORFEITURE OF CHARTER.  (a)  A domestic corporation engaged in the business of title insurance that violates this title is subject to:(1)  revocation by the commissioner of the corporation's permit;  and(2)  forfeiture of the corporation's charter.(b)  A foreign corporation engaged in the business of title insurance that violates this title is subject to revocation by the commissioner of the corporation's permit.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2551.353 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter H. Enforcement and Intervention|Section 2551.353. Procedure for Revocation of Certificate

Sec. 2551.353.  PROCEDURE FOR REVOCATION OF CERTIFICATE.  (a)  If the commissioner determines that a domestic or foreign corporation that holds a certificate of authority to engage in business in this state has violated this title, the commissioner shall notify the company that the commissioner intends to revoke the company's certificate of authority on the expiration of the 30-day period following the date actual notice is delivered or mailed under this section.(b)  Notice under this section must:(1)  be in writing;  and(2)  be delivered to an executive officer of the company by personal service or by registered mail.(c)  If a company receiving notice under this section does not fully comply before the expiration of the period described by Subsection (a), the commissioner shall revoke the company's certificate of authority.(d)  A company whose certificate of authority is revoked under this section is ineligible for another certificate of authority until the later of:(1)  the date on which the company fully and in good faith complies;  or(2)  the first anniversary of the date of the revocation.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2551.354 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle B - Organization of Title Insurance Companies|Chapter 2551 - Title Insurers|Subchapter H. Enforcement and Intervention|Section 2551.354. Appeal of Commissioner Action

Sec. 2551.354.  APPEAL OF COMMISSIONER ACTION.  (a)  A company qualified or seeking to qualify under this title and aggrieved by an action of the commissioner, including any action against the company, may file an appeal of the commissioner's action in a district court in Travis County.(b)  The appeal must be filed not later than the 30th day after the date the commissioner issues the order or ruling, except that if the order or ruling is directed against the company, whether or not directed against any other party, the company has 30 days after the date of receipt of official notice of the commissioner's action to review the action.(c)  An appeal under this section is subject to the same standard of review as an appeal under this code in accordance with Section 36.203.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.001 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.001. Short Title

Sec. 2602.001.  SHORT TITLE.  This chapter may be cited as the Texas Title Insurance Guaranty Act.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.002 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.002. Purposes and Findings

Sec. 2602.002.  PURPOSES AND FINDINGS.  (a)  This chapter is for:(1)  the purposes and findings stated in Sections 441.001, 441.003, 441.005, and 441.006;(2)  the protection of holders of covered claims; and(3)  the protection of consumers served by impaired agents.(b)  This chapter and the powers granted and functions authorized by this chapter shall be exercised to accomplish the purposes of this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2I.004, eff. April 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 2, eff. September 1, 2009.|
TX Ins Code § 2602.004 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.004. Description of Control

Sec. 2602.004.  DESCRIPTION OF CONTROL.  (a)  For purposes of this chapter, control is the power to direct, or cause the direction of, the management and policies of a person, other than power that results from an official position with or corporate office held by the person.  The power may be possessed directly or indirectly by any means, including through the ownership of voting securities or by contract, other than a commercial contract for goods or nonmanagement services.(b)  A person is presumed to control another person if the person directly or indirectly owns, controls, holds with the power to vote, or holds proxies representing 10 percent or more of the voting securities of the other person.  This presumption may be rebutted by a showing that the person does not in fact control the other person.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.005 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.005. Applicability; Conflict With Other Laws

Sec. 2602.005.  APPLICABILITY;  CONFLICT WITH OTHER LAWS.  (a)  This chapter applies to:(1)  a title insurance company engaging in business under this title;(2)  all title insurance, direct or reinsurance, written by a title insurance company engaging in business under this title;  and(3)  trust funds or escrow accounts of:(A)  title insurance companies engaging in business under this title;  or(B)  agents authorized to engage in business in this state and engaging in business under and governed by this title.(b)  If this chapter conflicts with another law relating to the subject matter of this chapter or its application, other than Chapter 441 or 443, this chapter controls.  If this chapter conflicts with Chapter 441 or 443, that chapter controls.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2I.005, eff. April 1, 2009.|
TX Ins Code § 2602.006 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.006. Construction

Sec. 2602.006.  CONSTRUCTION.  (a)  This chapter shall be liberally construed to implement the purposes of this chapter described by Section 2602.002, which shall be used to aid and guide interpretation of this chapter.(b)  This chapter does not:(1)  expand or diminish a right or obligation between or among policyholders, title insurance companies, or agents;  or(2)  require a person to assign, waive, or relinquish a claim, right, or cause of action arising under Chapter 541 of this code or Subchapter E, Chapter 17, Business & Commerce Code.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.007 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.007. Prohibited Use of Protection Provided by Chapter

Sec. 2602.007.  PROHIBITED USE OF PROTECTION PROVIDED BY CHAPTER.  (a)  A title insurance company or agent may not advertise or refer to this chapter as an inducement to the purchase of title insurance.(b)  The use by a person of the protection provided by this chapter in the sale of insurance is unfair competition and an unfair practice under Chapter 541.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.008 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.008. Immunity

Sec. 2602.008.  IMMUNITY.  (a)  Liability does not exist and a cause of action does not arise against any of the following persons for a good faith action or omission of the person in exercising the person's powers and performing the person's duties under this chapter:(1)  the commissioner or the commissioner's representative;(2)  the association or the association's agent, representative, or employee;(3)  a title insurance company or the company's agent or employee;(4)  a board member; and(5)  a special deputy receiver or the special deputy receiver's agent or employee.(b)  The attorney general shall defend any action to which Subsection (a) applies that is brought against a person listed in that subsection, including an action instituted after the defendant's service with the association, commissioner, or department has terminated.  This subsection does not require the attorney general to defend a person or entity with respect to an issue other than the applicability or effect of the immunity created by Subsection (a).  The attorney general is not required to defend a person listed in Subsection (a)(2), (3), (4), or (5) against an action regarding the disposition of a claim filed with the association under this chapter or any issue other than the applicability or effect of the immunity created by Subsection (a).  The association may contract with the attorney general under Chapter 771, Government Code, for legal services not covered by this subsection.(c)  A title insurance company that reinsures or assumes the policies of an impaired title insurance company is not liable, and a cause of action does not arise against that company:(1)  for an action or omission by the impaired title insurance company or an officer, director, employee, attorney, or agent of the impaired title insurance company;(2)  by subrogation;  or(3)  under any type of indemnity agreement.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.Amended by: Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 1, eff. September 1, 2019.|
TX Ins Code § 2602.009 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.009. Association and Title Insurance Companies as Interested Parties

Sec. 2602.009.  ASSOCIATION AND TITLE INSURANCE COMPANIES AS INTERESTED PARTIES.  The association and each title insurance company assessed under this chapter are interested parties under Sections 3(h) and 12(b), Article 21.28.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.010 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.010. Rules

Sec. 2602.010.  RULES.  The commissioner shall adopt reasonable rules as necessary to implement and supplement this chapter and its purposes.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.011 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.011. Information Provided by and to Commissioner

Sec. 2602.011.  INFORMATION PROVIDED BY AND TO COMMISSIONER.  (a)  The commissioner shall notify the association of the existence of an impaired title insurance company or impaired agent not later than the third day after the date on which the commissioner gives notice of the designation of impairment to the impaired agent or impaired title insurance company.  The association is entitled to a copy of any complaint seeking an order of receivership with a finding of insolvency against a title insurance company at the time the complaint is filed with a court.(b)  The commissioner shall notify the board when the commissioner receives a report from the commissioner of insurance or other analogous officer of another state that indicates that a title insurance company has been designated impaired in another state.  The report to the board must contain all significant details of the action taken or the report received.(c)  The commissioner shall report to the board when the commissioner has reasonable cause to believe from a completed or continuing examination of any title insurance company that the company may be an impaired title insurance company.  The board may use this information in performing its duties under this chapter.  The board shall keep the report and the information contained in the report confidential until it is made public by the commissioner or other lawful authority.(d)  On the board's request, the commissioner shall provide the association with a statement of the net direct written premiums of each title insurance company.(e)  The commissioner may require that the association notify the insureds of the impaired title insurance company and any other interested party of the designation of impairment and of the person's rights under this chapter.  Notification by publication in a newspaper of general circulation is sufficient notice under this section.|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. 4, eff. September 1, 2009.|
TX Ins Code § 2602.012 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.012. Appeals

Sec. 2602.012.  APPEALS.  (a)  A title insurance company may appeal to the commissioner an action or ruling of the association relating to an assessment.(b)  An action or ruling of the commissioner under this chapter may be appealed as provided by Subchapter D, Chapter 36.(c)  A title insurance company appealing an assessment shall pay the assessment.  The association may use the money to meet its obligations while the appeal is pending.  If the appeal on the assessment is upheld, the association shall return to the company the amount paid in error or excess.(d)  Venue in a suit relating to an action or ruling under this chapter is in Travis County.  Each party to the action may appeal, and the appeal is at once returnable to the appellate court and has precedence over all cases of a different character pending before the court.  The commissioner or association is not required to give an appeal bond in an appeal of a cause of action arising under this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|
TX Ins Code § 2602.013 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter A. General Provisions|Section 2602.013. Venue

Sec. 2602.013.  VENUE.  An action against the association or an action against the association's board member, agent, representative, or employee that arises from the exercise of the person's powers or performance of the person's duties under this chapter must be brought in a district court in Travis County.|Added by Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 2, eff. September 1, 2019.|
TX Ins Code § 2602.051 (2021)
2021 Texas Statutes|Insurance Code|Title 11 - Title Insurance|Subtitle C - Financial Solvency|Chapter 2602 - Texas Title Insurance Guaranty Association|Subchapter B. Governance of Texas Title Insurance Guaranty Association|Section 2602.051. Association as Legal Entity; Supervision; Membership

Sec. 2602.051.  ASSOCIATION AS LEGAL ENTITY;  SUPERVISION;  MEMBERSHIP.  (a)  The Texas Title Insurance Guaranty Association is a nonprofit legal entity.(b)  The association is subject to the applicable insurance laws of this state and the immediate supervision of the commissioner.(c)  A title insurance company may not engage in the business of title insurance in this state unless the company is a member of the association.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.|