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Texas Insurance Code - Section 442.201. Proof Of Claim Required; Deadline

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.201. Proof Of Claim Required; Deadline

§ 442.201. PROOF OF CLAIM REQUIRED;  DEADLINE.  (a) If a 
liquidation, rehabilitation, or conservation order has been 
entered in a delinquency proceeding, each person who may have a 
claim against the insurer as provided by Section 442.551, including 
a claimant with a secured claim or a claim based on trust or escrow 
funds, must present a proof of claim to the receiver:
		(1)  at a place specified by the receiver;  and                               
		(2)  not later than the date specified by the court, 
which may not be before the 90th day after the date the order 
specifying the date is entered.
	(b)  The receiver shall notify all persons who may have a 
claim against the insurer, as disclosed by the insurer's books and 
records, regarding the requirement to present a proof of claim to 
the receiver.  The notice must:
		(1)  specify the last day for presenting a proof of 
claim;  and             
		(2)  be given in a manner determined by the court.                            
	(c)  The receiver must receive the required proof of claim 
before paying a claim.
	(d)  If a proof of claim is not presented on or before the 
date specified by the court as required by Subsection (a), the claim 
may not share in any distribution of the insurer's assets by the 
receiver, except that, subject to court approval, the receiver may 
accept a claim presented not later than the 90th day after the date 
notice is mailed to the person under Subsection (b).

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

Last modified: August 10, 2007