Tex. Ins. Code Section 443.201
Turnover of Assets


(a)

If the receiver determines that funds or property in the possession of another person are rightfully the property of the estate, the receiver shall deliver to the person a written demand for immediate delivery of the funds or property, referencing this section by number and the court and docket number of the receivership action, and notifying the person that any claim of right to the funds or property by the person must be presented to the receivership court not later than the 20th day after the date of the written demand. Any person who holds funds or other property belonging to an entity subject to an order of receivership under this chapter shall deliver the funds or other property to the receiver on demand. Should the person allege any right to retain the funds or other property, the person, not later than the 20th day after the date of receipt of the demand that the funds or property be delivered to the receiver, shall file with the receivership court a pleading setting out that right. The person shall serve a copy of the pleading on the receiver. The pleading must inform the receivership court as to the nature of the claim to the funds or property, the alleged value of the property or amount of funds held, and what action, pending determination of the dispute, has been taken by the person to preserve and protect the property or to preserve any funds. The relinquishment of possession of funds or property by any person who has received a demand pursuant to this section does not constitute a waiver of a right to make a claim in the receivership.

(b)

If requested by the receiver, the receivership court shall hold a hearing to determine where and under what conditions the person shall hold the property or funds pending determination of the dispute. The receivership court may impose conditions as it may deem necessary or appropriate for the preservation of the property or funds until the receivership court can determine the validity of the person’s claim to the property or funds. If any property or funds are allowed to remain in the possession of the person after demand made by the receiver, that person is strictly liable to the estate for any waste, loss, or damage to or diminution of value of the property or funds retained.

(c)

If a person has filed a pleading alleging any right to retain funds or property as provided by Subsection (a), the receivership court shall hold a subsequent hearing to determine the entitlement of the person to the funds or property claimed by the receiver.

(d)

If a person fails to deliver the funds or property or to file the pleading described by Subsection (a) within the period described by Subsection (a), the receivership court may, upon petition of the receiver and upon a copy of the petition being served by the receiver to that person, issue its summary order directing the immediate delivery of the funds or property to the receiver and finding that the person has waived all claims of right to the funds or property.
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.201 by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.004(a)(1), eff. September 1, 2007.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.201 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.004(a)(1), eff. September 1, 2007.

Source: Section 443.201 — Turnover of Assets, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­443.­htm#443.­201 (accessed May 4, 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

Accessed:
May 4, 2024

§ 443.201’s source at texas​.gov