Section 463.051 - Purpose and Regulation of Association(a) The Texas Life and Health Insurance Guaranty Association is a nonprofit legal entity existing to pay benefits and continue coverage as provided by this chapter.(b) The association is subject to the applicable provisions of this code and other insurance laws of this state and the immediate supervision of the commissioner. The commissioner may examine and regulate the association in the same manner as an insurer under this code.Amended By Acts 2011, 82nd Leg., R.S., Ch. 14, Sec. 4, eff. 9/1/2011.Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 3B.014(a), eff. 9/1/2007.Amended By Acts 2007, 80th Leg., R.S., Ch. 921, Sec. 9.014(a), eff. 9/1/2007.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.