Tex. Insurance Code § 422.054
This is the official text of Tex. Insurance Code § 422.054, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 422.054. PREFERENTIAL CLAIMS ON LIQUIDATION.
Official statutory text
If an insurer is involuntarily or voluntarily liquidated, a claimant of the insurer has a prior and preferential claim against all assets of the insurer other than the assets that have been pledged or encumbered in accordance with this chapter or the assets that are subject to a pledge or encumbrance of an asset described by Section 422.053(b)(2). All claimants have equal status, and their prior and preferential claim is superior to any claim or cause of action against the insurer by any other person, corporation, association, or legal entity.
Status: in_force · Read it on the official government site
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