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Texas Insurance Code - Section 442.104. Duty Of Receiver To Take Possession Of Assets; Inventory

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.104. Duty Of Receiver To Take Possession Of Assets; Inventory

§ 442.104. DUTY OF RECEIVER TO TAKE POSSESSION OF ASSETS;  
INVENTORY.  (a) The receiver shall promptly take possession of the 
assets of an insurer that is the subject of a delinquency proceeding 
and, as the court directs, manage those assets in the person's own 
name as receiver or in the name of the insurer.
	(b)  The receiver is responsible for all assets coming into 
the receiver's possession.
	(c)  The receiver shall promptly prepare, in duplicate, an 
inventory of the insurer's assets.  The receiver shall file one copy 
of the inventory with the department and one copy in the office of 
the clerk of the court.  The copies of the inventory are open for 
inspection.

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 10, 2007