Tex. Ins. Code Section 2602.102
Plan of Operation


(a)

The association shall perform its functions under a plan of operation. The plan of operation must contain provisions necessary or proper for the execution of the association’s powers and duties. The plan of operation must, in addition to the other requirements of this chapter:

(1)

establish:

(A)

procedures for handling the assets of the association;

(B)

the amount and method of reimbursing board members;

(C)

regular places and times for board meetings;

(D)

procedures for maintaining records of all financial transactions of the association, its agents, and the board; and

(E)

procedures for determining the amount of guaranty fees, for collecting those fees, and for assessments;

(2)

provide for the establishment of a claims filing procedure that includes:

(A)

notice by the association to claimants;

(B)

procedures for filing claims seeking recovery from the association; and

(C)

a procedure for appealing the denial of claims by the association; and

(3)

contain additional provisions necessary or proper for the execution of the association’s powers and duties.

(b)

The association shall submit to the commissioner any amendment to the plan of operation necessary or suitable to ensure the fair, reasonable, and equitable administration of the association. The amendment takes effect on the commissioner’s written approval or the 90th day after the date the amendment is submitted unless disapproved by the commissioner.

(c)

If the association does not submit a suitable amendment to the plan of operation, the commissioner after notice and hearing may adopt reasonable rules as necessary or advisable to implement this chapter. A rule continues in effect until modified by the commissioner or superseded by an amendment submitted by the association and approved by the commissioner.

(d)

Each title insurance company shall comply with the plan of operation.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 5, eff. September 1, 2019.

Source: Section 2602.102 — Plan of Operation, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­2602.­htm#2602.­102 (accessed Jun. 5, 2024).

2602.001
Short Title
2602.002
Purposes and Findings
2602.003
Definitions
2602.004
Description of Control
2602.005
Applicability
2602.006
Construction
2602.007
Prohibited Use of Protection Provided by Chapter
2602.008
Immunity
2602.009
Association and Title Insurance Companies as Interested Parties
2602.010
Rules
2602.011
Information Provided by and to Commissioner
2602.012
Appeals
2602.013
Venue
2602.051
Association as Legal Entity
2602.052
Board of Directors
2602.053
Eligibility to Serve as Public Representative
2602.054
Term
2602.055
Compensation of Board Members
2602.057
Rights of Title Insurance Company with Representative on Board
2602.101
General Powers and Duties
2602.102
Plan of Operation
2602.103
Employees and Experts
2602.104
Association Records
2602.105
Meeting by Conference Call
2602.106
Accounts
2602.107
Administrative Expenses
2602.108
Deposit of Fees and Assessments
2602.109
Use of Excess Money in Accounts
2602.110
Expenses of Administering Impaired Insurer or Impaired Agent
2602.111
Delegation of Powers and Duties
2602.112
Exemption from Taxation
2602.113
Detection and Prevention of Impairment
2602.114
Meeting of Board on Impaired Title Insurance Company or Agent
2602.115
Association and Board Advice and Assistance
2602.116
Board Access to Records
2602.117
Board Report at Conclusion of Impairment
2602.151
Payment of Fee
2602.152
Amount of Fee
2602.153
Use of Fee
2602.154
Enforcement of Fee
2602.201
Making of Assessment
2602.202
Amount of Assessment
2602.203
Notice and Payment
2602.204
Exemption for Impaired Title Insurance Company
2602.205
Deferment
2602.206
Participation Receipts
2602.207
Accounting
2602.208
Use of Assessments
2602.209
Failure to Pay
2602.210
Recovery of Assessment in Rates
2602.251
Covered Claims in General
2602.252
Claim Against Trust Funds or Escrow Account
2602.253
Claim in Connection with Fidelity of Agent
2602.254
Certain Conservator and Receiver Expenses Covered
2602.255
Claims Not Covered
2602.256
Amount of Covered Claim
2602.257
Exhaustion of Other Rights Required
2602.258
Certain Money Authorized for Use in Paying Covered Claim
2602.259
Stay of Proceedings
2602.260
Admissibility of Payment
2602.261
Appeal of Claim Determination
2602.301
General Powers and Duties of Association in Connection with Payment of Covered Claims
2602.302
Payment of Covered Claims
2602.303
Servicing Facility
2602.304
Advance as Loan
2602.305
Association in Place of Impaired Title Insurance Company or Agent
2602.306
Assignment of Claimant’s Rights
2602.307
Settlement by Association Binding
2602.308
Report to Receiver
2602.351
Determination of Conservator Concerning Reinsurance, Assumption, or Substitution
2602.352
Notice of Determination Concerning Actual Payment
2602.353
Filing of Covered Claim
2602.354
Claim by Person with Cause of Action Against Insured
2602.355
Report to Association
2602.401
Issuance or Renewal of Policies
2602.402
Distributions to Shareholders and Affiliates
2602.403
Assets Attributable to Covered Policies
2602.451
Applicability
2602.452
Actions for Certain Agents
2602.453
Authority of Association

Accessed:
Jun. 5, 2024

§ 2602.102’s source at texas​.gov