Texas Insurance Code - Section 442.302. Levy
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§ 442.302. LEVY. (a) After giving notice in the manner
designated by the court to each member or insured described by
Section 442.301, the court shall consider the application made
under that section and may levy one or more assessments, subject to
Subsection (c).
(b) The assessment or assessments must cover the excess of
the insurer's probable liabilities over the reasonable value of the
insurer's assets, together with the estimated cost of collection
and percentage of uncollectibility of the assessments.
(c) The court may not levy an assessment against a member or
insured with regard to an insurance policy that does not expressly
provide that the policy is subject to assessment.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.208 442.209 442.210 442.251 442.252 442.253 442.301 442.302 442.303 442.304 442.351 442.352 442.401 442.402 442.403
Last modified: August 11, 2007
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