Texas Insurance Code - Section 442.403. Maintenance Of Records
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Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.403. Maintenance Of Records
§ 442.403. MAINTENANCE OF RECORDS. (a) The receiver may
devise a method for the effective, efficient, and economical
maintenance of the records of the delinquent insurer and of the
receiver's office. The method may include maintaining those
records on any medium approved by the records management division
of the Texas State Library.
(b) A copy of an original record or another record that is
maintained within the scope of this subchapter on a medium approved
by the records management division of the Texas State Library and
that is produced by the receiver or the receiver's authorized
representative under this chapter:
(1) has the same effect as the original record; and
(2) may be used in the same manner as the original
record in a judicial or administrative proceeding in this state.
(c) The receiver may reserve the estate assets for deposit
in an account to be used for the specific purpose of maintenance,
storage, and disposal of records in closed receivership estates.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.302 442.303 442.304 442.351 442.352 442.401 442.402 442.403 442.404 442.405 442.451 442.452 442.453 442.501 442.502
Last modified: August 11, 2007
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