Tex. Insurance Code § 444.002
This is the official text of Tex. Insurance Code § 444.002, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 444.002. DISPOSITION OF PREMIUMS.
Official statutory text
(a) On or after the cancellation date of insurance policies as stated in the court's order canceling the policies, the agent shall promptly account to the receiver for:
(1) all unearned premiums to be returned to the insured or the replacement coverage to be obtained for the insured; and
(2) the earned premiums to be paid to the receiver.
(b) The agent shall:
(1) promptly return to an insured who paid the premiums any unearned premiums in the possession of the agent on the cancellation date of the policy; or
(2) with the approval of the insured, use the unearned premiums to purchase new coverage for the insured with a different insurer.
(c) The agent shall promptly remit to the receiver any earned premiums in the possession of the agent.
(1) all unearned premiums to be returned to the insured or the replacement coverage to be obtained for the insured; and
(2) the earned premiums to be paid to the receiver.
(b) The agent shall:
(1) promptly return to an insured who paid the premiums any unearned premiums in the possession of the agent on the cancellation date of the policy; or
(2) with the approval of the insured, use the unearned premiums to purchase new coverage for the insured with a different insurer.
(c) The agent shall promptly remit to the receiver any earned premiums in the possession of the agent.
Status: in_force · Read it on the official government site
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