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 Jun. 5, 2024).

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
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 443.015’s source at texas​.gov