Tex. Insurance Code § 463.304
DISTRIBUTION OF OWNERSHIP RIGHTS OF IMPAIRED OR INSOLVENT INSURER
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 463.304, DISTRIBUTION OF OWNERSHIP RIGHTS OF IMPAIRED OR INSOLVENT INSURER, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677960
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Full 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.