Tex. Insurance Code § 462.304
This is the official text of Tex. Insurance Code § 462.304, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 462.304. SERVICING FACILITY.
Official statutory text
(a) The association shall handle claims through:
(1) the association's employees or contract claims adjusters; or
(2) subject to the approval of the commissioner, one or more insurers designated as a servicing facility under a servicing agreement or loss portfolio transfer agreement.
(b) A member insurer may decline designation as a servicing facility.
(c) The association shall reimburse a servicing facility for obligations of the association paid by the facility and expenses incurred by the facility in handling claims for the association. The association shall reimburse a servicing facility under this subsection in a manner that is consistent with the applicable servicing agreement or loss portfolio agreement.
(d) The commissioner may revoke the designation of a servicing facility if the commissioner finds that servicing facility is handling claims unsatisfactorily.
(1) the association's employees or contract claims adjusters; or
(2) subject to the approval of the commissioner, one or more insurers designated as a servicing facility under a servicing agreement or loss portfolio transfer agreement.
(b) A member insurer may decline designation as a servicing facility.
(c) The association shall reimburse a servicing facility for obligations of the association paid by the facility and expenses incurred by the facility in handling claims for the association. The association shall reimburse a servicing facility under this subsection in a manner that is consistent with the applicable servicing agreement or loss portfolio agreement.
(d) The commissioner may revoke the designation of a servicing facility if the commissioner finds that servicing facility is handling claims unsatisfactorily.
Status: in_force · Read it on the official government site
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