Texas Labor Code - Section 407A.461. Possession Of Security By Guaranty Fund
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§ 407A.461. POSSESSION OF SECURITY BY GUARANTY FUND. On
the assumption of obligations on behalf of an insolvent group by the
guaranty fund under the commissioner's determination, the guaranty
fund is entitled to immediate possession of any assets of the
insolvent group and any security deposited or the proceeds of any
surety bond deposited by the insolvent group, along with all
interest on the security. All assessments from members of the
insolvent group shall be paid to the guaranty fund.
Added by Acts 2005, 79th Leg., ch. 1055, § 1, eff. Sept. 1, 2005.
Section: 407A.451 407A.452 407A.453 407A.454 407A.455 407A.456 407A.457 407A.458 407A.459 407A.460 407A.461 407A.462 407A.463 407A.464 407A.465
Last modified: August 10, 2007
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