reglab/housing_qa huggingface dataset:
TX Ins Code § 462.1121 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter C. General Powers and Duties of Association|Section 462.1121. Action to Obtain Information Concerning Insurer in Receivership Authorized

Sec. 462.1121.  ACTION TO OBTAIN INFORMATION CONCERNING INSURER IN RECEIVERSHIP AUTHORIZED.  (a)  The association may bring an action against any third-party administrator, agent, attorney, or other representative of an insurer for which a receiver has been appointed to obtain custody and control of all information, including files, records, and electronic data, related to the insurer that is appropriate or necessary for the association, or a similar association in other states, to carry out its duties under this chapter or a similar law of another state.  The association has the absolute right to obtain information under this section through emergency equitable relief, regardless of where the information is physically located.(b)  In bringing an action under this section, the association is not subject to any defense, possessory lien or other type of lien, or other legal or equitable ground for refusal to surrender the information that may be asserted against the receiver of the insurer.(c)  The association is entitled to an award of reasonable attorney's fees and costs incurred by the association in any action to obtain information under this section.(d)  The rights granted to the association under this section do not affect the receiver's title to information, and information obtained under this section remains the property of the receiver while in the custody of the association.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.007(b), eff. September 1, 2007.Added by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.007(b), eff. September 1, 2007.|
TX Ins Code § 462.113 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter C. General Powers and Duties of Association|Section 462.113. Board Report on Conclusion of Insolvency

Sec. 462.113.  BOARD REPORT ON CONCLUSION OF INSOLVENCY.  On the conclusion of the insolvency of a domestic insurer with respect to which the association was obligated to pay covered claims, the board may:(1)  prepare a report on the history and causes of the insolvency, based on information available to the association; and(2)  submit the report to the commissioner.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.114 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter C. General Powers and Duties of Association|Section 462.114. Duty of Receiver

Sec. 462.114.  DUTY OF RECEIVER.  The receiver shall periodically submit a list of claims to the association or similar organization in another state.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.151 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.151. Making of Assessment; Amount

Sec. 462.151.  MAKING OF ASSESSMENT; AMOUNT.  (a)  The association shall assess member insurers the amount necessary to pay:(1)  the association's obligations under Section 462.302 and the expenses of handling covered claims subsequent to an insolvency; and(2)  other expenses authorized by this chapter.(b)  The assessment of each member insurer must be in the proportion that the net direct written premiums of the insurer for the calendar year preceding the assessment bear to the net direct written premiums of all member insurers for that year.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.152 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.152. Maximum Total Assessment

Sec. 462.152.  MAXIMUM TOTAL ASSESSMENT.  (a)  The total assessment of a member insurer in a year may not exceed an amount equal to two percent of the insurer's net direct written premiums for the calendar year preceding the assessment.(b)  If the maximum assessment and the association's other assets are insufficient in a year to make all necessary payments, the money available shall be prorated and the association shall pay the unpaid portion as soon as money becomes available.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.153 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.153. Refund of Contribution

Sec. 462.153.  REFUND OF CONTRIBUTION.  The association may refund to the member insurers in proportion to the contribution of each member insurer to the association the amount by which the association's assets exceed the association's liabilities, if at the end of a calendar year the board finds that the assets of the association exceed the liabilities of the association as estimated by the board for the next year.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.154 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.154. Notice of Assessment

Sec. 462.154.  NOTICE OF ASSESSMENT.  The association shall notify a member insurer of an assessment not later than the 30th day before the date the assessment is due.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.155 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.155. Deferment

Sec. 462.155.  DEFERMENT.  (a)  The association may defer wholly or partly an assessment of a member insurer that would cause the insurer's financial statement to show amounts of capital or surplus less than the minimum amounts required for a certificate of authority in any jurisdiction in which the insurer is authorized to engage in the business of insurance.(b)  The member insurer shall pay the deferred assessment at the time payment will not reduce capital or surplus below required minimums.  The payment shall be refunded to or credited against future assessments of any member insurer receiving a larger assessment because of the deferment, as elected by that insurer.(c)  During a period of deferment, the member insurer may not pay a dividend to shareholders or policyholders.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.156 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.156. Use of Assessments

Sec. 462.156.  USE OF ASSESSMENTS.  (a)  The amounts provided under assessments made under this chapter supplement the marshalling of assets by the receiver under Chapter 442 to make payments on the impaired insurer's behalf.(b)  This section does not require the receiver to exhaust the assets of the impaired insurer before an assessment is made or before money derived from an assessment may be used to pay covered claims.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.157 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.157. Tax Credit

Sec. 462.157.  TAX CREDIT.  (a)  An insurer is entitled to a credit against the insurer's premium tax under Chapter 221 for the total amount of an assessment paid by the insurer under this chapter.(b)  The tax credit may be taken at a rate of 10 percent each year for 10 successive years after the date of assessment.  At the option of the insurer, the tax credit may be taken over an additional number of years.(c)  The balance of a tax credit not claimed in a particular year may be reflected in the books and records of the insurer as an admitted asset of the insurer for all purposes, including exhibition in an annual statement under Section 862.001.(d)  Available credit against premium tax allowed under this section may be transferred or assigned among insurers if:(1)  a merger, acquisition, or total assumption of reinsurance among the insurers occurs; or(2)  the commissioner by order approves the transfer or assignment.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.158 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.158. Advance as Loan

Sec. 462.158.  ADVANCE AS LOAN.  Money advanced by the association under this chapter is considered a special fund loan to the impaired insurer for payment of covered claims and does not become an asset of the impaired insurer.  The loan is repayable to the extent money from the impaired insurer is available.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.159 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.159. Estimate of Additional Money Needed on Impairment of Insurer

Sec. 462.159.  ESTIMATE OF ADDITIONAL MONEY NEEDED ON IMPAIRMENT OF INSURER.  (a)  If the commissioner determines that an insurer has become an impaired insurer, the association shall promptly estimate the amount of additional money, by lines of business, needed to supplement the immediately available assets of the impaired insurer to pay covered claims.(b)  The board shall make additional money available as the actual need arises for each impaired insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.160 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.160. Assessment for Additional Money for Accounts

Sec. 462.160.  ASSESSMENT FOR ADDITIONAL MONEY FOR ACCOUNTS.  If the board determines that additional money is needed in any of the three accounts described by Section 462.105, the board shall make assessments as needed to produce the necessary money.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.161 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.161. Amount of Assessment; Proration of Payment

Sec. 462.161.  AMOUNT OF ASSESSMENT; PRORATION OF PAYMENT.  (a)  The association, in determining the proportionate amount to be paid by individual insurers under an assessment under Section 462.160, shall consider the lines of business written by the impaired insurer and shall assess individual insurers in proportion to the ratio that the total net direct written premiums collected in this state by the insurer for those lines of business bears to the total net direct written premiums collected by all insurers, other than impaired insurers, in this state for those lines of business.(b)  The association shall determine the total net direct written premiums of an individual insurer and of all insurers in the state from the insurers' annual statements for the year preceding assessment.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.162 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.162. Maximum Assessment of Insurer; Additional Assessment Authority Under Certain Circumstances

Sec. 462.162.  MAXIMUM ASSESSMENT OF INSURER; ADDITIONAL ASSESSMENT AUTHORITY UNDER CERTAIN CIRCUMSTANCES.  (a)  Except as otherwise provided by this section, assessments under Section 462.160 during a calendar year may not exceed two percent of each insurer's net direct written premiums for the preceding calendar year in the lines of business for which the assessments are made.(b)  In the event of a natural disaster or other catastrophe, the association may apply to the governor, in the manner prescribed by the plan of operation, for authority to assess each member insurer that writes insurance coverage, other than automobile insurance coverage or workers' compensation insurance coverage, an additional amount not to exceed two percent of the insurer's net direct written premiums for the preceding calendar year.(c)  If the maximum assessment in a calendar year does not provide an amount sufficient for payment of covered claims of impaired insurers, the association may make assessments in successive calendar years.  |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.163 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.163. Payment of Assessment

Sec. 462.163.  PAYMENT OF ASSESSMENT.  An insurer shall pay the amount of an assessment under Section 462.160 or 462.162(b) to the association not later than the 30th day after the date the association gives notice of the assessment.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.164 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.164. Participation Receipts

Sec. 462.164.  PARTICIPATION RECEIPTS.  (a)  On receipt from a member insurer of payment of an assessment or partial assessment under Section 462.160 or 462.162(b), the association shall provide the insurer with a participation receipt.  A participation receipt creates liability against the account described by Section 462.105 for the line or lines of business for which the assessment was made.(b)  The account from which an advance is made to an impaired insurer for the payment of covered claims is a general creditor of the impaired insurer for the money advanced.  With reference to the remaining balance of an advance not used to pay covered claims, the claim of the account has preference over other general creditors.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.165 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.165. Accounting; Reports; Refund

Sec. 462.165.  ACCOUNTING; REPORTS; REFUND.  (a)  The association, with respect to an impaired insurer, shall adopt accounting procedures that reflect the use of all money and shall make a final report of the use of the money to the commissioner.  The final report must state any remaining balance from the money advanced to an impaired insurer for the payment of covered claims.(b)  The association shall make interim accounting reports as required by the commissioner or requested by the conservator.(c)  As soon as practicable after completion of the final report, the association shall refund by line of business the remaining balance of those advances to the association's accounts.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.166 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.166. Use of Excess Money in Account

Sec. 462.166.  USE OF EXCESS MONEY IN ACCOUNT.  (a)  If the association determines that money in the account described by Section 462.164(b) for a line of business exceeds the amount reasonably necessary for efficient future operation under this chapter, the association shall, after deducting any premium tax credit taken under Section 462.157, return the excess money pro rata to the holders of participation receipts:(1)  on which an outstanding balance exists; and(2)  that were issued for an assessment on the same line of business as the line for which the excess money is found to exist.(b)  The association shall transfer an excess amount that exists in the account described by Section 462.164(b) to the comptroller to be deposited to the credit of the general revenue fund if:(1)  after a distribution under this section the association finds that an excess amount still exists; or(2)  participation receipts on which there is an outstanding balance do not exist.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.167 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.167. Collection of Assessments

Sec. 462.167.  COLLECTION OF ASSESSMENTS.  (a)  The commissioner may collect an assessment on behalf of the association through a suit brought for that purpose.(b)  Venue for a suit under this section is in Travis County.(c)  Either party to the suit may appeal to an appellate court.  The appeal is at once returnable to the appellate court.  The appeal has precedence in the appellate court over all causes of a different character pending before the court.(d)  The commissioner is not required to give an appeal bond in any cause of action arising under this section.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.168 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter D. Assessments in General|Section 462.168. Exemption for Impaired Insurer

Sec. 462.168.  EXEMPTION FOR IMPAIRED INSURER.  An impaired insurer is exempt from assessment from the date the insurer is designated an impaired insurer until the date the commissioner determines that the insurer is no longer an impaired insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.201 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter E. Covered Claims; Claimants|Section 462.201. Covered Claims in General

Sec. 462.201.  COVERED CLAIMS IN GENERAL.  A claim is a covered claim if:(1)  the claim is an unpaid claim;(2)  the claim is made under an insurance policy to which this chapter applies that is:(A)  issued by an insurer authorized to engage in business in this state; or(B)  assumed by an insurer authorized to engage in business in this state that issues an assumption certificate to the insured;(3)  the claim arises out of the policy and is within the coverage and applicable limits of the policy;(4)  the insurer that issued the policy or assumed the policy under an assumption certificate issued to the insured is an impaired insurer; and(5)  the claim:(A)  is made by a liability claimant or insured who is a resident of this state at the time of the insured event; or(B)  is a first-party claim for damage to property that is permanently located in this state.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.202 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter E. Covered Claims; Claimants|Section 462.202. Claim for Unearned Premiums

Sec. 462.202.  CLAIM FOR UNEARNED PREMIUMS.  (a)  A claim for unearned premiums is a covered claim.  A covered claim for unearned premiums may not exceed $25,000.(b)  With respect to a covered claim for unearned premiums, a person has a covered claim under this chapter if the person is a resident of this state at the time:(1)  the policy is issued; or(2)  the insurer is determined to be an impaired insurer.(c)  A person has a covered claim under this chapter if the person holds a valid assignment of a covered claim for unearned premiums under Subsections (a) and (b).|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.Amended by: Acts 2015, 84th Leg., R.S., Ch. 1188 (S.B. 1227), Sec. 1, eff. June 19, 2015.|
TX Ins Code § 462.203 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter E. Covered Claims; Claimants|Section 462.203. Certain Expenses of Receivership or Conservatorship Estate Covered

Sec. 462.203.  CERTAIN EXPENSES OF RECEIVERSHIP OR CONSERVATORSHIP ESTATE COVERED.  An administration expense incurred in processing or paying a claim against a receivership or conservatorship estate is a covered claim if the impaired insurer has insufficient assets to pay the expenses of administering the estate. |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.204 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter E. Covered Claims; Claimants|Section 462.204. Affiliate May Not Be Claimant

Sec. 462.204.  AFFILIATE MAY NOT BE CLAIMANT.  A person who is an affiliate of an impaired insurer may not be a claimant of the insurer.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 462.205 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle D - Guaranty Associations|Chapter 462 - Texas Property and Casualty Insurance Guaranty Association|Subchapter E. Covered Claims; Claimants|Section 462.205. Determination of Residence of Entities

Sec. 462.205.  DETERMINATION OF RESIDENCE OF ENTITIES.  A corporation or other entity that is not an individual is considered to be a resident of the state in which the entity's principal place of business is located.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|