Tex. Ins. Code Section 911.155
Repair or Replacement of Insured Property

The company’s bylaws may authorize the company to require, at its option, that all or a percentage of the money paid for a loss be used to replace or repair the damaged or destroyed property. The requirement may apply equally to personal and real property, including personal and real property exempt from execution, such as a homestead or a building on the homestead. The company may provide in its bylaws that the requirements of Section 862.053 (Fire Insurance: Total Loss of Real Property) do not apply to its insurance policies.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Source: Section 911.155 — Repair or Replacement of Insured Property, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­911.­htm#911.­155 (accessed Jun. 5, 2024).

911.001
Limited Exemption from Insurance Laws 911.002
General Rulemaking Authority 911.003
Fees 911.051
Applicability of Texas Non-profit Corporation Act 911.052
Formation of Company: Incorporation Required 911.053
Incorporation Requirements 911.054
Charter and Articles of Incorporation 911.055
Application for Permit to Solicit Insurance 911.056
Issuance of Permit to Solicit Insurance 911.057
Collection and Refund of Money from Certain Individuals Applying for Insurance 911.058
Membership Control of Company 911.059
Eligibility of Board of Directors 911.060
General Powers of Board of Directors 911.061
Authority to Borrow Money 911.062
Removal of Officer or Director 911.063
Creation of Local Chapters and Districts 911.064
Policyholder Meetings 911.065
Voting by Policyholder 911.066
Authority to Prohibit Waiver of Bylaws 911.067
Application for Extension of Charter for Certain Companies 911.101
Authority to Engage in Business 911.151
Kinds of Insurance Authorized 911.152
Property and Hazards Against Which Company May Not Insure 911.153
Contract Terms: Incorporation of Bylaws 911.154
Contract Terms: Adoption of Additional Provisions 911.155
Repair or Replacement of Insured Property 911.201
Payment of Premium or Assessment 911.202
Nonpayment of Premiums or Assessments: Filing of Action 911.203
Policyholder Liability 911.251
Licensing and Appointment of Certain Agents 911.301
General Operating Requirements 911.302
Location of Business 911.303
Reinsurance 911.304
Annual Reports Required 911.305
Examination of Company 911.306
Solvency Requirements 911.307
Reserve Requirements 911.308
Surplus Requirements
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Accessed:
Jun. 5, 2024

§ 911.155’s source at texas​.gov