Tex. Insurance Code § 443.203
This is the official text of Tex. Insurance Code § 443.203, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 443.203. UNAUTHORIZED POST-PETITION TRANSFERS.
Official statutory text
(a) Except as provided by this section, the receiver may avoid any transfer of an interest of the insurer in property or any obligation incurred by the insurer that:
(1) was made or occurred after the petition for receivership was filed; and
(2) is not authorized by the receiver and approved by the receivership court or otherwise authorized in accordance with this chapter.
(b) Except to the extent that a transfer or obligation avoidable under Subsection (a) is otherwise voidable under this chapter, a transferee or obligee of a transfer or obligation avoided under Subsection (a) that takes for value and in good faith, at the option of the receivership court, has a lien or may retain any interest transferred or enforce any obligation incurred, as applicable, to the extent that the transferee or obligee gave value to the insurer in exchange for the transfer or obligation.
(1) was made or occurred after the petition for receivership was filed; and
(2) is not authorized by the receiver and approved by the receivership court or otherwise authorized in accordance with this chapter.
(b) Except to the extent that a transfer or obligation avoidable under Subsection (a) is otherwise voidable under this chapter, a transferee or obligee of a transfer or obligation avoided under Subsection (a) that takes for value and in good faith, at the option of the receivership court, has a lien or may retain any interest transferred or enforce any obligation incurred, as applicable, to the extent that the transferee or obligee gave value to the insurer in exchange for the transfer or obligation.
Status: in_force · Read it on the official government site
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