Tex. Ins. Code Section 443.402
Domiciliary Receivers Appointed in Other States


(a)

A domiciliary receiver appointed in another state is vested by operation of law with title to, and may summarily take possession of, all property and records of the insurer in this state. Notwithstanding any other provision of law regarding special deposits, special deposits held in this state shall be, upon the entry of an order of liquidation with a finding of insolvency, distributed to the guaranty associations in this state as early access payments subject to Section 443.303, in relation to the lines of business for which the special deposits were made. The holder of any special deposit shall account to the domiciliary receiver for all distributions from the special deposit at the time of the distribution. The statutory provisions of another state and all orders entered by courts of competent jurisdiction in relation to the appointment of a domiciliary receiver of an insurer and any related proceedings in another state must be given full faith and credit in this state. For purposes of this section, “another state” means any state other than this state. This state shall treat any other state than this state as a reciprocal state.

(b)

Upon appointment of a domiciliary receiver in another state, the commissioner shall, unless otherwise agreed by the receiver, immediately transfer title to and possession of all property of the insurer under the commissioner’s control, including all statutory general or special deposits, to the receiver.

(c)

Except as provided in Subsection (a), the domiciliary receiver shall handle special deposits and special deposit claims in accordance with federal law and the statutes pursuant to which the special deposits are required. All amounts in excess of the estimated amount necessary to administer the special deposit and pay the unpaid special deposit claims are deemed general assets of the estate. If there is a deficiency in any special deposit so that the claims secured by the special deposit are not fully discharged from the deposit, the claimants may share in the general assets of the insurer to the extent of the deficiency at the same priority as other claimants in their class of priority under Section 443.301, but the sharing must be deferred until the other claimants of their class have been paid percentages of their claims equal to the percentage paid from the special deposit. The intent of this provision is to equalize to this extent the advantage gained by the security provided by the special deposits.
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.402 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(qq), eff. September 1, 2007.
Redesignated from Insurance Code - Not Codified, Art/Sec 21A.402 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(qq), eff. September 1, 2007.

Source: Section 443.402 — Domiciliary Receivers Appointed in Other States, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­443.­htm#443.­402 (accessed Apr. 29, 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:
Apr. 29, 2024

§ 443.402’s source at texas​.gov