Tex. Ins. Code § 2602.307

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2602.307 - Settlement By Association Binding; Priority of Claim and Expenses

(a) The settlement of a covered claim by the association binds the receiver or statutory successor of an impaired title insurance company.

(b) The court shall give the covered claim the same priority against assets of the impaired title insurance company that the claim would have had in the absence of this chapter.

(c) The association's expenses in handling claims have the same priority as the receiver's expenses.

Tex. Ins. Code § 2602.307

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. 4/1/2005.