Texas Insurance Code - Section 463.304. Distribution Of Ownership Rights Of Insolvent Insurer
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§ 463.304. DISTRIBUTION OF OWNERSHIP RIGHTS OF INSOLVENT
INSURER. In making an equitable distribution of the ownership
rights of an insolvent insurer before the termination of a
receivership, the court:
(1) shall consider the welfare of the policyholders of
the continuing or successor insurer; and
(2) may consider the contributions of the respective
parties, including the association, the shareholders and
policyholders of the insolvent insurer, and any other party with a
bona fide interest.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 463.258 463.259 463.260 463.261 463.301 463.302 463.303 463.304 463.351 463.352 463.353 463.354 463.355 463.356 463.357
Last modified: August 10, 2007
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