Tex. Ins. Code Section 2054.154
Company Assets; State Liability


(a)

All money, revenues, and other assets of the company belong solely to the company and are governed by the laws applicable to domestic mutual insurance companies.

(b)

The state:

(1)

covenants with the company’s policyholders, persons receiving workers’ compensation benefits, and the company’s creditors that the state will not borrow, appropriate, or direct payments from the company’s money, revenues, or other assets for any purpose; and

(2)

has no liability or responsibility to those policyholders, persons receiving benefits, or creditors if the company is placed in conservatorship or receivership or becomes insolvent.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.

Source: Section 2054.154 — Company Assets; State Liability, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­2054.­htm#2054.­154 (accessed Jun. 5, 2024).

2054.001
Definitions
2054.002
Reference to Texas Workers’ Compensation Insurance Fund
2054.003
Operation as Domestic Mutual Insurance Company
2054.004
Insurance Company Under Texas Workers’ Compensation Act
2054.005
Applicability of Code
2054.006
Authority of Commissioner and Department
2054.007
Open Meetings Law and Open Records Law Not Applicable
2054.008
Investigation Files
2054.009
Conflicts with Certain Insurance Laws
2054.051
Board of Directors
2054.052
Qualifications
2054.053
Presiding Officer
2054.054
Terms
2054.055
Vacancies
2054.056
Grounds for Removal
2054.057
Procedures for Removal
2054.058
Committees and Subcommittees
2054.059
Meetings
2054.060
Quorum
2054.061
Compensation
2054.101
General Powers of Board
2054.102
General Duties of Board Relating to Workers’ Compensation Insurance
2054.103
Appointment of President
2054.104
Appointment of Internal Auditor
2054.105
Personal Liability of Board Members, Officers, and Employees
2054.106
Principal Office
2054.107
Certain Relationships with Other Insurers Prohibited
2054.108
Program and Facility Accessibility
2054.151
Purposes of Company
2054.152
Payment of Taxes, Fees, and Other Charges
2054.153
Membership in Texas Property and Casualty Insurance Guaranty Association
2054.154
Company Assets
2054.155
Required Reserves
2054.156
Ratio of Certain Premiums to Surplus
2054.157
Dissolution Prohibited
2054.201
Examination by Department
2054.202
Providing Information to Legislature
2054.203
Annual Accounting of Money Received and Disbursed
2054.204
Annual Statements
2054.205
Publication and Filing of Audited Report
2054.206
Additional Reports
2054.207
Periodic Reports to Board
2054.251
Ratemaking Authority
2054.252
Amounts of Rates
2054.253
Multitiered Premium Systems
2054.254
Cash Dividends
2054.255
Appointment of Agent Not Required
2054.256
Work Product Information
2054.257
Payment of Commission to Agent
2054.301
Application for Coverage
2054.302
Policy Forms
2054.303
Denial of Coverage Based on Credit Risk
2054.304
Cancellation and Nonrenewal
2054.351
Insurer of Last Resort
2054.352
Required Declination of Certain Risks
2054.353
Required Insurance of Certain Commonly Owned or Controlled Entities
2054.354
Development and Publication of Certain Information
2054.401
Appeal of Certain Actions and Decisions
2054.402
Review of Board Decision by Commissioner
2054.403
Appeal of Commissioner’s Decision
2054.451
Identification and Investigation Program for Fraud and Other Violations
2054.452
Investigations
2054.453
Restitution Payable to Company
2054.454
Deposit and Use of Penalties Collected by Division
2054.455
Funding Agreements for Criminal Prosecutions
2054.456
Immunity for Certain Actions
2054.501
Definition
2054.502
Requirements for Prevention of Injuries
2054.503
Grounds for Cancellation or Denial of Coverage
2054.504
Safety Consultation for Certain Insureds
2054.505
Safety Consultation Procedures
2054.506
Safety Consultant Report
2054.507
Accident Prevention Plan
2054.508
Accident Investigations
2054.509
Follow-up Inspection
2054.510
Cancellation of Coverage by Company
2054.511
Continuing Compliance with Subchapter
2054.512
Fees for Services
2054.513
Enforcement of Subchapter
2054.551
Public Interest Information
2054.552
Complaints
2054.553
Complaint Record
2054.601
Definition
2054.602
Health Benefit Coverage Offered by Subsidiary Authorized
2054.603
Considerations and Guiding Principles for Developing Health Benefit Coverage Offerings
2054.604
Rules
2054.605
Exemption from Other Insurance Laws
2054.606
Subsidiary Not Engaged in Business of Insurance
2054.607
Risk Transfer or Coverage

Accessed:
Jun. 5, 2024

§ 2054.154’s source at texas​.gov