Texas Insurance Code - Section 463.106. Delegation Of Powers And Duties
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Texas Lawyer > Insurance Code > Texas Insurance Code - Section 463.106. Delegation Of Powers And Duties
§ 463.106. DELEGATION OF POWERS AND DUTIES. (a) The plan
of operation may provide that, on approval of the board and the
commissioner, a power or duty of the association is delegated to a
corporation or other organization that:
(1) performs in two or more states functions similar
to those of the association or the association's equivalent; and
(2) provides protection not substantially less
favorable and effective than that provided by this chapter.
(b) A power or duty under Section 463.261(c) or Subchapter
D, other than a duty under Section 463.161(c), may not be delegated
under this section.
(c) The corporation or other organization to which a power
or duty is delegated shall be:
(1) reimbursed for a payment made on behalf of the
association; and
(2) paid for performing any other function of the
association.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 463.057 463.058 463.101 463.102 463.103 463.104 463.105 463.106 463.107 463.108 463.109 463.110 463.111 463.112 463.113
Last modified: August 10, 2007
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