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Texas Insurance Code - Section 463.201. Insureds Covered

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 463.201. Insureds Covered

§ 463.201. INSUREDS COVERED.  (a) This chapter provides 
coverage for a policy described by Section 463.202 to a person who 
is:
		(1)  subject to Subsection (b), an owner of or 
certificate holder under a policy or contract specified by Section 
463.202, or a contract holder under an unallocated annuity 
contract;  or
		(2)  a beneficiary, assignee, or payee, other than a 
certificate holder under a group policy or contract who is not a 
resident, of a person described by Subdivision (1).
	(b)  Coverage under Subsection (a)(1) applies to a person who 
is not a resident, only if:
		(1)  the insurer that issued the policy or contract is 
domiciled in this state;
		(2)  the insurer never held a certificate of authority 
in the state in which the person resides;
		(3)  the state in which the person resides has an 
association similar to the association;  and
		(4)  the person is not eligible for coverage by the 
association in the state in which the person resides.

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 10, 2007