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Texas Utilities Code - Section 163.016. Insurance

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§ 163.016. INSURANCE.  A participating entity may:                          
		(1)  contract for insurance, including specialized 
insurance for property and risks relating to the ownership, 
operation, and maintenance of electric facilities;
		(2)  contract for insurance for the use and benefit of 
each of the other participating entities as though the insurance 
was for the sole benefit of the contracting entity;  and
		(3)  cause the rights of the other participating 
entities to be protected under the contract in accordance with each 
entity's undivided interest or entitlement under any applicable 
agreement between the entities.

Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997.                    

Last modified: August 10, 2007