Texas Insurance Code - Section 462.002. Purposes
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§ 462.002. PURPOSES. The purposes of this chapter are
to:
(1) provide a mechanism for the payment of covered
claims under certain insurance policies to avoid excessive delay in
payment;
(2) avoid financial loss to claimants or policyholders
because of an insurer's impairment;
(3) assist in the detection and prevention of insurer
insolvencies; and
(4) provide an association to assess the cost of that
protection among insurers.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.802 442.803 442.804 461.001 461.002 461.003 462.001 462.002 462.003 462.004 462.005 462.006 462.007 462.008 462.009
Last modified: August 11, 2007
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