Tex. Ins. Code Section 462.307
Assignment of Rights

(a)

A person recovering under this chapter assigns to the association the person’s rights:

(1)

under the insurance policy; and

(2)

to recover for the occurrence that is the basis of the claim under this chapter under an insurance policy issued by an unimpaired insurer to the extent of the person’s recovery from the association.

(b)

The association may pursue a claim to which the association is subrogated under Subsection (a) in the association’s own name or in the name of the person recovering under this chapter.

(c)

An insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as that person would have been required to cooperate with the impaired insurer.

(d)

Except as provided by Section 462.308 (Recovery from Certain Persons) or 462.212 (Net Worth Exclusion), the association does not have a cause of action against the impaired insurer’s insured for money the association has paid, other than a cause of action that the impaired insurer would have had if the money had been paid by the impaired insurer.

(e)

In the case of an impaired insurer operating on a plan with assessment liability, the payment of a claim of the association does not reduce the liability of the insured to the receiver or statutory successor for an unpaid assessment.

(f)

To the extent the association has a right to recover proceeds from the sale of salvage property related to a covered claim, the association’s right to recover the proceeds may not be reduced in the amount of any pre-impairment costs, fees, or expenses related to the salvage property that are not part of a covered claim under Subchapter E. A person or entity in possession of salvage property subject to the association’s right of recovery may not seek recovery from the association for any pre-impairment costs, fees, or expenses related to the salvage property that are not a covered claim under Subchapter E.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 343 (S.B. 1063), Sec. 8, eff. September 1, 2019.

Source: Section 462.307 — Assignment of Rights, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­462.­htm#462.­307 (accessed Jun. 5, 2024).

462.001
Short Title 462.002
Purposes 462.003
Construction 462.004
General Definitions 462.005
Description of Control 462.006
Net Direct Written Premiums 462.007
Applicability in General 462.008
Applicability to Texas Mutual Insurance Company 462.009
Applicability to Former Texas Workers’ Compensation Insurance Facility and Successor 462.010
Conflict with Other Laws 462.011
Immunity in General 462.012
Immunity in Relation to Certain Reports and Recommendations 462.013
Immunity in Relation to Certain Negotiations 462.014
Rules 462.015
Information Provided by or to Commissioner 462.016
Penalty for Failure to Pay Assessments or Comply with Plan of Operation 462.017
Appeals and Other Actions 462.051
Association as Legal Entity 462.052
Board of Directors 462.053
Eligibility to Serve as Public Representative 462.054
Eligibility to Serve as Industry Representative 462.055
Term 462.056
Reimbursement of Board Members 462.057
Financial Statement of Board Member 462.058
Conflict of Interest 462.059
Meeting by Conference Call 462.101
General Powers and Duties 462.102
Association Not in Place of Impaired Insurer 462.103
Plan of Operation 462.104
Notice to Insureds 462.105
Accounts 462.106
Administrative Expenses 462.107
Examination of Association 462.108
Deposit of Money 462.109
Delegation of Powers and Duties 462.110
Exemption from Certain Fees and Taxes 462.111
Access to Records of Member Insurer in Receivership 462.112
Board Access to Records of Impaired Insurer 462.113
Board Report on Conclusion of Insolvency 462.114
Duty of Receiver 462.151
Making of Assessment 462.152
Maximum Total Assessment 462.153
Refund of Contribution 462.154
Notice of Assessment 462.155
Deferment 462.156
Use of Assessments 462.157
Tax Credit 462.158
Advance as Loan 462.159
Estimate of Additional Money Needed on Impairment of Insurer 462.160
Assessment for Additional Money for Accounts 462.161
Amount of Assessment 462.162
Maximum Assessment of Insurer 462.163
Payment of Assessment 462.164
Participation Receipts 462.165
Accounting 462.166
Use of Excess Money in Account 462.167
Collection of Assessments 462.168
Exemption for Impaired Insurer 462.201
Covered Claims in General 462.202
Claim for Unearned Premiums 462.203
Certain Expenses of Receivership or Conservatorship Estate Covered 462.204
Affiliate May Not Be Claimant 462.205
Determination of Residence of Entities 462.206
Claims Not Covered: Premium Under Retrospective Rating Plan 462.207
Claims Not Covered: Amounts Due Certain Entities 462.208
Claims Not Covered: Supplementary Payment Obligations 462.209
Claims Not Covered: Prejudgment or Postjudgment Interest 462.210
Claims Not Covered: Certain Damages 462.211
Claims Not Covered: Late Filed Claims 462.212
Net Worth Exclusion 462.213
Amount of Individual Covered Claim 462.214
Certain Shareholders’ Claims: Limit 462.251
Exhaustion of Rights Under Other Policy Required 462.252
Reduction in Amount of Covered Claim for Other Policy 462.253
Effect on Insured of Reduction in Amount of Covered Claim 462.254
Recovery from More than One Guaranty Association 462.255
Certain Claims Subject to Lien or Subrogation 462.301
General Powers and Duties of Association in Connection with Payment of Covered Claims 462.302
Payment of Covered Claims 462.303
Certain Determinations Not Binding 462.304
Servicing Facility 462.305
Limitation of Association’s Liability 462.306
Discharge of Policy Obligation 462.307
Assignment of Rights 462.308
Recovery from Certain Persons 462.309
Stay of Proceedings 462.310
Settlement by Association Binding 462.311
Report to Receiver 462.351
Issuance of Policies After Release from Receivership 462.1121
Action to Obtain Information Concerning Insurer in Receivership Authorized
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 462.307’s source at texas​.gov