Texas Insurance Code - Section 442.301. Application For Assessment
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§ 442.301. APPLICATION FOR ASSESSMENT. (a) Not later
than the fourth anniversary of the date of an order of
rehabilitation or liquidation of a domestic insurer, the receiver
may apply to the court to levy an assessment against the members of
a mutual insurance company, the members of a reciprocal or
interinsurance exchange, or the insureds of a Lloyd's plan who have
been issued an insurance policy that expressly provides that the
policy is subject to assessment.
(b) The application must state:
(1) the reasonable value of the insurer's assets;
(2) the insurer's probable liabilities; and
(3) the probable assessment, if any, necessary to pay
all possible claims and expenses in full, including expenses of
administration and collection.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.207 442.208 442.209 442.210 442.251 442.252 442.253 442.301 442.302 442.303 442.304 442.351 442.352 442.401 442.402
Last modified: August 10, 2007
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