Tex. Ins. Code Section 842.203
Final Judgment Deposit

(a)

For each 1,000 members and fraction of 1,000 members, a group hospital service corporation shall deposit $100 with the comptroller through the commissioner. The total deposit required under this subsection may not exceed $2,000.

(b)

The deposit required under Subsection (a) shall be used to pay any judgment entered against the group hospital service corporation and is subject to garnishment after a final judgment is entered.

(c)

The group hospital service corporation shall immediately replenish the amount on deposit if the amount is impounded or impaired. If the amount is not replenished immediately on the demand of the commissioner, the corporation may be regarded as insolvent and treated accordingly.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 842.203 — Final Judgment Deposit, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.842.htm#842.203 (accessed Jun. 5, 2024).

842.001
Definitions 842.002
Applicability of Other Laws 842.003
Corporation Subject to Regulation by Commissioner and Department 842.051
Application for Corporate Charter 842.052
Minimum Membership Requirements 842.101
Issuance of Certificate of Authority 842.151
Board of Directors 842.152
Compensation of Directors 842.153
Board Meetings 842.154
Bond Requirements for Certain Officers and Employees 842.155
Treasurer’s Bond 842.156
Compensation of Certain Officers and Employees 842.201
Annual Statement 842.202
Reserve Requirements 842.203
Final Judgment Deposit 842.204
Investment Limitations 842.205
Incurred Expenses 842.206
Minimum Surplus Requirement 842.207
Contracts 842.208
Books and Records 842.209
Examinations 842.210
Liquidation, Rehabilitation, or Conservation of Group Hospital Service Corporation 842.251
Plan of Operation 842.252
Membership Certificate 842.253
Policy, Certificate, and Application Forms 842.254
Deposit Requirements 842.255
Advance Payments to Hospital Prohibited 842.256
Contracts with Health Care Providers 842.257
May Limit Benefits 842.258
Limitations on Contracts for Medical Services 842.259
Use of Indemnity Plan Authorized 842.260
Payment of Claim 842.261
Information Available Through Internet Site 842.301
Revocation of Certificate of Authority

Accessed:
Jun. 5, 2024

§ 842.203’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._ins._code_section_842.203

Original Source: Section 842.203 — Final Judgment Deposit, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.842.htm#842.203 (last accessed Jun. 5, 2024).