reglab/housing_qa huggingface dataset:
TX Ins Code § 2210.6131 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.6131. Payment of Class 3 Public Securities

Sec. 2210.6131.  PAYMENT OF CLASS 3 PUBLIC SECURITIES.  (a)  The association shall pay Class 3 public securities issued under Section 2210.0741 from:(1)  net premium and other revenue; and(2)  if net premium and other revenue are not sufficient to pay the securities, a catastrophe area premium surcharge collected in accordance with this section.(b)  On approval by the commissioner, the association shall assess, as provided by this section, a premium surcharge to each policyholder of a policy described by Subsection (c).  The premium surcharge must be set in an amount sufficient to pay, for the duration of the issued public securities, all debt service not already covered by available funds and all related expenses on the public securities.(c)  The premium surcharge under this section shall be assessed on all policyholders of association policies issued under this chapter.(d)  A premium surcharge under this section is a separate charge in addition to the premiums collected and is not subject to premium tax or commissions.  Failure by a policyholder to pay the surcharge constitutes failure to pay premium for purposes of policy cancellation.|Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 27, eff. September 1, 2015.|
TX Ins Code § 2210.6132 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.6132. Contingent Source of Payment for Class 2 and Class 3 Public Securities

Sec. 2210.6132.  CONTINGENT SOURCE OF PAYMENT FOR CLASS 2 AND CLASS 3 PUBLIC SECURITIES.  (a)  The commissioner may determine, in consultation with the board and the authority, that:(1)  the authority is unable to issue Class 2 or Class 3 public securities to be payable under Section 2210.613 or 2210.6131, as applicable; or(2)  the issuance of Class 2 or Class 3 public securities to be payable under Section 2210.613 or 2210.6131, as applicable, is financially unreasonable for the association.(b)  If the commissioner makes a determination under Subsection (a), the commissioner shall order the Class 2 or Class 3 public securities, as applicable, to be paid by a premium surcharge assessed by each insurer, the association, and the Texas FAIR Plan Association on all policyholders of policies that are in effect on or after the 180th day after the date the commissioner issues the order.  The premium surcharge must be set in an amount sufficient to pay all debt service not already covered by available funds and all related expenses on the public securities.(c)  The premium surcharge under this section shall be assessed on all policyholders of policies that cover insured property that is located in a catastrophe area, including automobiles principally garaged in a catastrophe area.  The premium surcharge shall be assessed on each Texas windstorm and hail insurance policy and each property and casualty policy, including an automobile insurance policy, issued for automobiles and other property located in the catastrophe area.  A premium surcharge under Subsection (b) applies to:(1)  all policies written under the following lines of insurance:(A)  fire and allied lines;(B)  farm and ranch owners;(C)  residential property insurance;(D)  private passenger automobile liability and physical damage insurance; and(E)  commercial automobile liability and physical damage insurance; and(2)  the property insurance portion of a commercial multiple peril insurance policy.|Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 27, eff. September 1, 2015.|
TX Ins Code § 2210.614 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.614. Refinancing Public Securities

Sec. 2210.614.  REFINANCING PUBLIC SECURITIES.  The association may request the board to refinance any public securities issued in accordance with Subchapter B-1, whether Class 1, Class 2, or Class 3 public securities, with public securities payable from the same sources as the original public securities.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.615 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.615. Source of Payment; State Debt Not Created

Sec. 2210.615.  SOURCE OF PAYMENT; STATE DEBT NOT CREATED.  (a)  A public security or credit agreement is payable solely from revenue as provided by this subchapter.(b)  A public security issued under this subchapter, and any related credit agreement, is not a debt of this state or any state agency or political subdivision of this state, and does not constitute a pledge of the faith and credit of this state or any state agency or political subdivision of this state.(c)  Each public security, and any related credit agreement, issued under this subchapter must state on the security's face that:(1)  neither the state nor a state agency, political corporation, or political subdivision of the state is obligated to pay the principal of or interest on the public security except as provided by this subchapter; and(2)  neither the faith and credit nor the taxing power of the state or any state agency, political corporation, or political subdivision of the state is pledged to the payment of the principal of or interest on the public security.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.616 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.616. State Not to Impair Public Security Obligations

Sec. 2210.616.  STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS.  (a)  The state pledges for the benefit and protection of financing parties, the board, and the association that the state will not take or permit any action that would:(1)  impair the collection of premium surcharges or the deposit of those funds into the applicable trust fund;(2)  reduce, alter, or impair the premium surcharges to be imposed, collected, and remitted to financing parties until the principal, interest, and premium, and any other charges incurred and contracts to be performed in connection with the related public securities, have been paid and performed in full; or(3)  in any way impair the rights and remedies of the public security owners until the public securities are fully discharged.(b)  A party issuing public securities under this subchapter may include the pledge described by Subsection (a) in any documentation relating to those securities.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.Amended by: Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 53, eff. September 28, 2011.Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 28, eff. September 1, 2015.|
TX Ins Code § 2210.6165 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.6165. Property Rights

Sec. 2210.6165.  PROPERTY RIGHTS.  If public securities issued under this subchapter are outstanding, the rights and interests of the association, a successor to the association, any member of the association, or any member of the Texas FAIR Plan Association, including the right to impose, collect, and receive a premium surcharge authorized under this subchapter, are only contract rights until those revenues are first pledged for the repayment of the association's public security obligations as provided by Section 2210.609.|Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 54, eff. September 28, 2011.Amended by: Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 29, eff. September 1, 2015.|
TX Ins Code § 2210.617 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.617. Enforcement by Mandamus

Sec. 2210.617.  ENFORCEMENT BY MANDAMUS.  A writ of mandamus and any other legal and equitable remedies are available to a party at interest to require the association or another party to fulfill an agreement and to perform functions and duties under:(1)  this subchapter;(2)  the Texas Constitution; or(3)  a relevant public security resolution.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.618 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.618. Exemption From Taxation

Sec. 2210.618.  EXEMPTION FROM TAXATION.  A public security issued under this subchapter, any transaction relating to the public security, and profits made from the sale of the public security are exempt from taxation by this state or by a municipality or other political subdivision of this state.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.619 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.619. No Personal Liability

Sec. 2210.619.  NO PERSONAL LIABILITY.  The members of the association, members of the association board of directors, association employees, the board, the employees of the Texas Public Finance Authority, the commissioner, and department employees are not personally liable as a result of exercising the rights and responsibilities granted under this subchapter.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.620 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter M. Public Securities Program|Section 2210.620. Authorized Investments

Sec. 2210.620.  AUTHORIZED INVESTMENTS.  Public securities issued under this subchapter are authorized investments under:(1)  Subchapter B, Chapter 424;(2)  Subchapter C, Chapter 425; and(3)  Sections 425.203-425.213.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.651 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. Legislative Oversight Board|Section 2210.651. Definition

Sec. 2210.651.  DEFINITION.  In this subchapter, "board" means the windstorm insurance legislative oversight board.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.652 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. Legislative Oversight Board|Section 2210.652. Composition of Board

Sec. 2210.652.  COMPOSITION OF BOARD.  The windstorm insurance legislative oversight board is composed of eight members as follows:(1)  four members of the senate appointed by the lieutenant governor, including the chairperson of the Senate Business and Commerce Committee, who shall serve as co-chairperson of the board; and(2)  four members of the house of representatives appointed by the speaker of the house of representatives.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.653 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. Legislative Oversight Board|Section 2210.653. Powers and Duties of Board

Sec. 2210.653.  POWERS AND DUTIES OF BOARD.  (a)  The board shall:(1)  receive information about rules proposed by the department relating to windstorm insurance and may submit comments to the commissioner on the proposed rules;(2)  monitor windstorm insurance in this state, including:(A)  the adequacy of rates;(B)  the operation of the association; and(C)  the availability of coverage; and(3)  review recommendations for legislation proposed by the department or the association.(b)  The board may request reports and other information from the department and the association as necessary to implement this subchapter.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|
TX Ins Code § 2210.654 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. Legislative Oversight Board|Section 2210.654. Report

Sec. 2210.654.  REPORT.  (a)  Not later than November 15 of each even-numbered year, the board shall report on the board's activities under Section 2210.653 to:(1)  the governor;(2)  the lieutenant governor; and(3)  the speaker of the house of representatives.(b)  The report must include:(1)  an analysis of any problems identified; and(2)  recommendations for any legislative action necessary to address those problems and to foster stability, availability, and competition within the windstorm insurance industry.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.|For expiration of this section, see Subsection (d).
TX Ins Code § 2210.655 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. Legislative Oversight Board|Section 2210.655. Temporary Powers and Duties of Board; Study of Funding and Funding Structure

Sec. 2210.655.  TEMPORARY POWERS AND DUTIES OF BOARD; STUDY OF FUNDING AND FUNDING STRUCTURE.  (a)  The board shall:(1)  gather information regarding:(A)  how the association's current funding and funding structure operate;(B)  how the catastrophic risk pools of other states operate; and(C)  other information that the board considers necessary to prepare the information required by Subsection (c); and(2)  hold public meetings to hear testimony from experts, stakeholders, and other interested parties regarding recommendations and proposals for establishing and implementing sustainable funding and a sustainable funding structure for the association.(b)  The board may request reports and other information as necessary to implement this section from:(1)  the department;(2)  the association; and(3)  experts, stakeholders, and other interested parties described by Subsection (a)(2).(c)  The board shall include in the report described by Section 2210.654 the board's findings regarding the current funding and funding structure of the association, problems with the funding and funding structure, and recommendations for legislative action related to the funding, funding structure, and sustainability of the association.  The report must include:(1)  an analysis of the current funding, funding structure, and sustainability of the association, including the association's reliance on debt and reinsurance; and(2)  recommendations for legislative action necessary to:(A)  address problems with the current funding and funding structure of the association; and(B)  foster the stability and sustainability of the association.(d)  This section expires September 1, 2023.|Added by Acts 2021, 87th Leg., R.S., Ch. 147 (S.B. 1448), Sec. 3, eff. September 1, 2021.|For expiration of this subchapter, see Section 2210.665.
TX Ins Code § 2210.661 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. -1. Legislative Funding and Funding Structure Oversight Board|Section 2210.661. Definition

Sec. 2210.661.  DEFINITION.  In this subchapter, "board" means the windstorm insurance legislative funding and funding structure oversight board.|Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 11, eff. June 10, 2019.|
TX Ins Code § 2210.662 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. -1. Legislative Funding and Funding Structure Oversight Board|Section 2210.662. Composition of Board

Sec. 2210.662.  COMPOSITION OF BOARD.  The board is composed of eight members as follows:(1)  four members of the senate appointed by the lieutenant governor including the chairperson of the Senate Business and Commerce Committee, who shall serve as co-chairperson of the board; and(2)  four members of the house of representatives appointed by the speaker of the house of representatives.|Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 11, eff. June 10, 2019.|
TX Ins Code § 2210.663 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. -1. Legislative Funding and Funding Structure Oversight Board|Section 2210.663. Powers and Duties of Board

Sec. 2210.663.  POWERS AND DUTIES OF BOARD.  (a)  The board shall:(1)  gather information regarding:(A)  how the association's current funding and funding structure operate;(B)  how the catastrophic risk pools of other states operate; and(C)  other information that the board considers necessary to prepare the report required by Section 2210.664; and(2)  hold public meetings to hear testimony from experts, stakeholders, and other interested parties regarding recommendations and proposals for establishing and implementing sustainable funding and a sustainable funding structure for the association.(b)  The board may request reports and other information as necessary to implement this subchapter from:(1)  the department;(2)  the association; and(3)  experts, stakeholders, and other interested parties described by Subsection (a)(2).|Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 11, eff. June 10, 2019.|
TX Ins Code § 2210.664 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. -1. Legislative Funding and Funding Structure Oversight Board|Section 2210.664. Report

Sec. 2210.664.  REPORT.  (a)  The board shall prepare a report of the board's findings regarding the current funding and funding structure of the association, problems with the funding and funding structure, and recommendations for legislative action related to the funding, funding structure, and sustainability of the association. The report must include:(1)  an analysis of the current funding, funding structure, and sustainability of the association, including the association's reliance on debt and reinsurance; and(2)  recommendations for legislative action necessary to:(A)  address problems with the current funding and funding structure of the association; and(B)  foster the stability and sustainability of the association.(b)  Not later than November 15, 2020, the board shall deliver the report prepared under Subsection (a) to:(1)  the governor;(2)  the lieutenant governor; and(3)  the speaker of the house of representatives.|Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 11, eff. June 10, 2019.|
TX Ins Code § 2210.665 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter N. -1. Legislative Funding and Funding Structure Oversight Board|Section 2210.665. Expiration

Sec. 2210.665.  EXPIRATION.  This subchapter expires September 1, 2021.|Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 11, eff. June 10, 2019.|
TX Ins Code § 2210.701 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter O. Depopulation Program|Section 2210.701. Depopulation Program

Sec. 2210.701.  DEPOPULATION PROGRAM.  (a)  The association shall administer, subject to commissioner approval, a depopulation program that encourages the transfer of association policies to insurers through the voluntary market or assumption reinsurance.(b)  An insurer engaged in the business of property and casualty insurance in this state may elect to participate in the depopulation program.|Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 30, eff. September 1, 2015.|
TX Ins Code § 2210.702 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter O. Depopulation Program|Section 2210.702. Assumption Reinsurance Depopulation

Sec. 2210.702.  ASSUMPTION REINSURANCE DEPOPULATION.  (a)  The association shall make available to insurers who elect to participate in the depopulation program association policy information necessary for the insurers to determine whether to reinsure a policy ceded to the insurer by the association.  The commissioner shall by rule establish the information that is necessary to provide to an insurer under this subsection.(b)  If an insurer elects to reinsure a policy under this section, the reinsurance must be provided as assumption reinsurance by novation and the insurer is legally and contractually responsible for the association policy ceded to the insurer on the effective date of the reinsurance agreement regardless of whether the association continues to provide some services on the policy.  The association is not liable under the policy on and after the effective date of the assumption reinsurance agreement.  Except as specifically provided in an agreement between the association and the insurer, the insurer shall administer the policy and process, adjust, and pay claims in accordance with the policy.(c)  If an insurer elects to provide reinsurance under this section, the insurer shall comply with the applicable provisions of Chapters 202 and 493.|Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 30, eff. September 1, 2015.|