Tex. Insurance Code § 463.257
IMPOSITION OF LIEN OR MORATORIUM
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 463.257, IMPOSITION OF LIEN OR MORATORIUM, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677948
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Full text
To carry out the association's duties under this chapter and with the court's approval, the association may:
(1) impose a permanent policy or contract lien in connection with any guarantee, assumption, or reinsurance agreement if the association determines that:
(A) the amounts that may be assessed under this chapter are insufficient to ensure full and prompt performance of the association's duties under this chapter; or
(B) adverse economic or financial conditions affecting member insurers make imposition of the lien in the public interest; or
(2) in addition to any contractual provision for deferral of cash or policy loan value, impose a temporary moratorium or lien on payment of cash values and policy loans or the exercise of any other right to withdraw money held in connection with a policy or contract.