Tex. Insurance Code § 463.304
This is the official text of Tex. Insurance Code § 463.304, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 463.304. DISTRIBUTION OF OWNERSHIP RIGHTS OF IMPAIRED OR INSOLVENT INSURER.
Official statutory text
In making an equitable distribution of the ownership rights of an impaired or insolvent insurer before the termination of a receivership, the court:
(1) shall consider the welfare of the policyholders, contract owners, certificate holders, and enrollees of the continuing or successor insurer; and
(2) may consider the contributions of the respective parties, including the association, the shareholders, policyholders, contract owners, certificate holders, and enrollees of the impaired or insolvent insurer, and any other party with a bona fide interest.
(1) shall consider the welfare of the policyholders, contract owners, certificate holders, and enrollees of the continuing or successor insurer; and
(2) may consider the contributions of the respective parties, including the association, the shareholders, policyholders, contract owners, certificate holders, and enrollees of the impaired or insolvent insurer, and any other party with a bona fide interest.
Status: in_force · Read it on the official government site
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