Section 463.101 - General Powers and Duties(a) The association may:(1) enter into contracts as necessary or proper to carry out this chapter and the purposes of this chapter;(2) sue or be sued, including taking:(A) necessary or proper legal action to:(i) recover an unpaid assessment under Subchapter D; or(ii) settle a claim or potential claim against the association; or(B) necessary legal action to avoid payment of an improper claim;(3) borrow money to effect the purposes of this chapter;(4) exercise, for the purposes of this chapter and to the extent approved by the commissioner, the powers of a domestic life, accident, or health insurance company, a health maintenance organization, or a group hospital service corporation, except that the association may not issue an insurance policy or annuity contract other than to perform the association's obligations under this chapter;(5) unless prohibited by other law, implement or file for an actuarially justified rate or premium increase in accordance with the terms and conditions of a covered policy or contract;(6) to further the association's purposes, exercise the association's powers, and perform the association's duties, join an organization of one or more state associations that have similar purposes;(7) request information from a person seeking coverage from the association in determining its obligations under this chapter with respect to the person, and the person shall promptly comply with the request; and(8) take any other necessary or appropriate action to discharge the association's duties and obligations under this chapter or to exercise the association's powers under this chapter.(b) If not in default, a note or other evidence of indebtedness of the association is a legal investment for a domestic insurer and may be carried as an admitted asset.Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 432,Sec. 7, eff. 9/1/2019.Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 3B.015(a), eff. 9/1/2007.Amended By Acts 2007, 80th Leg., R.S., Ch. 921, Sec. 9.015(a), eff. 9/1/2007.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.