Tex. Insurance Code § 462.310
This is the official text of Tex. Insurance Code § 462.310, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 462.310. SETTLEMENT BY ASSOCIATION BINDING; PRIORITY OF CLAIM AND EXPENSES.
Official statutory text
(a) The settlement of a covered claim by the association or a similar organization in another state binds the receiver or statutory successor of an impaired insurer.
(b) The court having jurisdiction shall give the covered claim the same priority against assets of the impaired insurer that the claim would have had in the absence of this chapter.
(c) The expenses of the association or a similar organization in another state in handling claims have the same priority as the receiver's expenses.
(b) The court having jurisdiction shall give the covered claim the same priority against assets of the impaired insurer that the claim would have had in the absence of this chapter.
(c) The expenses of the association or a similar organization in another state in handling claims have the same priority as the receiver's expenses.
Status: in_force · Read it on the official government site
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