Tex. Agriculture Code § 41.210
REIMBURSEMENT OF BOARD BY GRAIN BUYER; SUBROGATION OF RIGHTS; REINSURANCE
Texas · Texas Agriculture Code · Status: effective
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- Citation
- Tex. Agriculture Code § 41.210, REIMBURSEMENT OF BOARD BY GRAIN BUYER; SUBROGATION OF RIGHTS; REINSURANCE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/626646
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Full text
(a) If the board pays a claim against a grain buyer, the board is subrogated to the extent of the amount paid to a grain producer by the board to all rights of the grain producer against the grain buyer and any other entity from which the grain producer is entitled to a payment for the loss giving rise to the grain producer's claim under this subchapter.
(b) Funds recovered under this section shall be deposited with the depository bank selected by the board under Section 41.060.
(c) The board may purchase reinsurance policies to mitigate the board's financial risks.