Tex. Ins. Code Section 463.301
Issuance or Renewal of Policies Following Conservatorship or Receivership

(a)

If an assessment has been made under this chapter for the insurer or guaranty fees have been provided for the insurer, an impaired insurer placed in conservatorship or receivership may not issue a new or renewal insurance policy on release from the conservatorship or receivership until the insurer has repaid in full the amount of guaranty fees provided by the association.

(b)

Notwithstanding Subsection (a), on application of the association and after hearing, the commissioner may permit the insurer to issue new policies as provided by a plan of operation by the insurer for repayment. In approving the plan, the commissioner may restrict the issuance of new or renewal policies as necessary to implement the plan.

(c)

The commissioner shall give 10 days’ notice of the hearing to the association. The association and the member insurers that paid assessments in relation to the impaired insurer are entitled to appear at and participate in the hearing.

(d)

Money recovered against an impaired insurer under this section shall be repaid to the member insurers that paid assessments in relation to the impaired insurer on return of the member insurers’ certificates of contribution.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 463.301 — Issuance or Renewal of Policies Following Conservatorship or Receivership, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­463.­htm#463.­301 (accessed Jun. 5, 2024).

463.001
Short Title 463.002
Purpose 463.003
General Definitions 463.004
Construction 463.005
Immunity 463.006
Rules 463.007
Construction of Long-term Care Rider 463.0031
Definition of Principal Place of Business of Plan Sponsor or Other Person 463.0032
Use of Terms Policy and Contract 463.051
Purpose and Regulation of Association 463.052
Required Participation in Association 463.053
Board of Directors 463.054
Eligibility to Serve as Public Representative 463.055
Term 463.056
Compensation of Board Members 463.057
Financial Statement of Board Member 463.058
Conflict of Interest 463.059
Meetings by Telephone and Videoconference 463.101
General Powers and Duties 463.102
Plan of Operation 463.103
Personnel 463.104
Association Records 463.105
Accounts 463.106
Delegation of Powers and Duties 463.107
Exemption from Taxation 463.108
Detection and Prevention of Impairment and Insolvency 463.109
Association Appearance Before Court 463.110
Annual Report 463.111
Board and Association Advice and Assistance 463.112
Board Access to Records 463.113
Board Report at Conclusion of Insolvency 463.114
Summary Document 463.151
Making and Payment of Assessment 463.152
Classes of Assessments 463.153
Amount of Assessments 463.154
Deferment 463.155
Deposit of Assessments 463.156
Certificate of Contribution 463.157
Refunds 463.158
Use of Assessments 463.159
Failure to Pay 463.160
Premium Tax Credit for Class a Assessment 463.161
Premium Tax Credit for Class B Assessment 463.162
Assignment or Transfer of Credit 463.163
Insured’s Liability Under Assessment Plan 463.201
Persons Covered 463.202
Policies and Contracts Covered 463.203
Policies and Contracts Excluded 463.204
Obligations Excluded 463.205
Protection Provided by Other Jurisdiction 463.206
Association Discretion in Manner of Providing Benefits 463.251
Impaired Domestic Insurer 463.252
Impaired Domestic, Foreign, or Alien Insurer Not Paying Claims 463.253
Insolvent Insurer 463.254
Life or Health Insurance Policies or Contracts 463.255
Policy or Contract with Guaranteed Interest Rate 463.256
Alternative Policy 463.257
Imposition of Lien or Moratorium 463.258
Premium for Reissuance of Terminated Coverage 463.259
Premium Due During Receivership 463.260
Limits on and Termination of Association Obligation 463.261
Assignment of Rights 463.262
Effect of Subrogation and Assignment of Rights and Available Assets on Association Obligation 463.263
Deposit to Be Paid to Association 463.264
Reinsurance 463.301
Issuance or Renewal of Policies Following Conservatorship or Receivership 463.302
Distributions to Shareholders and Affiliates 463.303
Assets Attributable to Covered Policies 463.304
Distribution of Ownership Rights of Impaired or Insolvent Insurer 463.351
Notice of Commissioner Actions 463.352
Advice from Board 463.353
Examination 463.354
Demand to Cure Impairment 463.355
Failure to Comply with Plan of Operation 463.356
Assumption of Powers and Duties of Association 463.357
Notification of Effect of Chapter 463.358
Statement of Premiums 463.401
Appeal to Commissioner 463.402
Venue 463.403
Appeal Bond 463.404
Stay of Proceedings 463.451
Prohibited Use of Protection Provided by Chapter
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 463.301’s source at texas​.gov