Texas Insurance Code - Section 442.252. Personal Liability For Voidable Transfer Or Lien
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§ 442.252. PERSONAL LIABILITY FOR VOIDABLE TRANSFER OR
LIEN. (a) The following persons are personally liable for the
property of the insurer or the benefit of that property received as
a result of a transfer or lien described by Section 442.251:
(1) each director, officer, agent, employee,
shareholder, member, attorney-in-fact, including an associate,
substitute, or deputy attorney-in-fact, underwriter, subscriber,
or other person acting on behalf of the insurer who is concerned in
the transfer or lien; and
(2) each person who, as a result of the transfer or
lien, receives the property of the insurer or the benefit of that
property.
(b) A person who is personally liable under Subsection (a)
shall account to the receiver for the benefit of the creditors of
the insurer.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.205 442.206 442.207 442.208 442.209 442.210 442.251 442.252 442.253 442.301 442.302 442.303 442.304 442.351 442.352
Last modified: August 10, 2007
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