Tex. Ins. Code Section 443.015
Approval and Payment of Expenses


(a)

The receiver may pay any expenses under contracts, leases, employment agreements, or other arrangements entered into by the insurer prior to receivership, as the receiver deems necessary for the purposes of this chapter. The receiver is not required to pay any expenses that the receiver determines are not necessary, and may reject any contract pursuant to Section 443.013.

(b)

Receivership expenses other than those described in Subsection (a) must be paid in accordance with Subsections (c)-(f).

(c)

The receiver shall submit to the receivership court an application pursuant to Section 443.007 to approve:

(1)

the terms of compensation of each special deputy or contractor with respect to which the total amount of the compensation is reasonably expected by the receiver for the duration of the delinquency proceeding to exceed $250,000, or another amount established by the receivership court; and

(2)

any other anticipated expense in excess of $25,000, or another amount established by the receivership court.

(d)

The receiver may, as the receiver deems appropriate, submit an application to approve any compensation, anticipated expenses, or incurred expenses not described by Subsection (c)(1).

(e)

The receiver may pay any expenses not requiring receivership court approval and any expenses approved by the rehabilitation or liquidation order as the expenses are incurred.

(f)

The approval of expenses by the receivership court does not prejudice the right of the receiver to seek any recovery, recoupment, disgorgement, or reimbursement of fees based on contract or causes of action recognized in law or in equity.

(g)

On a quarterly basis, or as otherwise provided by the receivership court, the receiver shall submit to the receivership court a report summarizing the expenses incurred during the period.

(h)

Receivership court approval may not be required to pay expenses incurred by the receiver in connection with the appeal of an order of the receivership court.

(i)

All expenses of receivership shall be paid from the assets of the insurer, except as provided by this subsection. In the event that the property of the insurer does not contain sufficient cash or liquid assets to defray the expenses incurred, the commissioner may advance funds from the account established under Section 443.304(c). Any amounts advanced shall be repaid to the account out of the first available money of the insurer.
Added by Acts 2005, 79th Leg., Ch. 995 (H.B. 2157), Sec. 1, eff. September 1, 2005.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.015 by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.004(a)(1), eff. September 1, 2007.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.004(g), eff. September 1, 2007.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.015 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.004(a)(1), eff. September 1, 2007.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.004(g), eff. September 1, 2007.

Source: Section 443.015 — Approval and Payment of Expenses, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­443.­htm#443.­015 (accessed Nov. 25, 2023).

443.001
Construction and Purpose
443.002
Conflicts of Law
443.003
Covered Persons
443.004
Definitions
443.005
Jurisdiction and Venue
443.006
Exemption from Fees
443.007
Notice, Hearing, and Appeal on Matters Submitted by Receiver for Receivership Court Approval
443.008
Injunctions and Orders
443.009
Statutes of Limitations
443.010
Cooperation of Officers, Owners, and Employees
443.011
Actions by and Against Receiver
443.012
Unrecorded Obligations and Defenses of Affiliates
443.013
Executory Contracts and Unexpired Leases
443.014
Immunity and Indemnification of Receiver and Assistants
443.015
Approval and Payment of Expenses
443.016
Financial Reporting
443.017
Records
443.051
Receivership Court’s Seizure Order
443.052
Commencement of Formal Delinquency Proceeding
443.053
Return of Summons and Summary Hearing
443.054
Proceedings for Expedited Trial: Continuances, Discovery, Evidence
443.055
Decision and Appeals
443.056
Confidentiality
443.057
Grounds for Conservation, Rehabilitation, or Liquidation
443.058
Entry of Order
443.059
Effect of Petition or Order on Contract or Lease
443.101
Rehabilitation Orders
443.102
Powers and Duties of Rehabilitator
443.103
Rehabilitation Plans
443.104
Termination of Rehabilitation
443.105
Coordination with Guaranty Associations
443.0135
Contracts for Special Deputies
443.151
Liquidation Orders
443.152
Continuance of Coverage
443.153
Sale or Dissolution of Insurer’s Corporate Entity
443.154
Powers of Liquidator
443.155
Notice to Creditors and Others
443.156
Duties of Agents
443.201
Turnover of Assets
443.202
Recovery from Affiliates
443.203
Unauthorized Post-petition Transfers
443.204
Voidable Preferences and Liens
443.205
Fraudulent Transfers and Obligations
443.206
Receiver as Lien Creditor
443.207
Liability of Transferee
443.208
Claims of Holders of Void or Voidable Rights
443.209
Setoffs
443.210
Assessments
443.211
Reinsurer’s Liability
443.212
Recovery of Premiums Owed
443.213
Administration of Deductible Agreements and Policyholder Collateral
443.251
Filing of Claims
443.252
Proof of Claim
443.253
Allowance of Claims
443.254
Claims Under Occurrence Policies, Surety Bonds, and Surety Undertakings
443.255
Allowance of Contingent and Unliquidated Claims
443.256
Special Provisions for Third-party Claims
443.257
Disputed Claims
443.258
Liquidator’s Recommendations to Receivership Court
443.259
Claims of Codebtors
443.260
Secured Creditors’ Claims
443.261
Qualified Financial Contracts
443.301
Priority of Distribution
443.302
Partial and Final Distributions of Assets
443.303
Early Access Payments
443.304
Unclaimed and Withheld Funds
443.351
Condition on Release from Delinquency Proceedings
443.352
Termination of Liquidation Proceedings
443.353
Reopening Receivership
443.354
Disposition of Records During and After Termination of Receivership
443.355
External Audit of the Receiver’s Books
443.401
Ancillary Conservation of Foreign Insurers
443.402
Domiciliary Receivers Appointed in Other States

Accessed:
Nov. 25, 2023

§ 443.015’s source at texas​.gov