DELEGATION OF POWERS AND DUTIES.
Tex. INS Code § 2602.111.
in effect(a) The plan of operation may provide that, on approval of the board, a power or duty of the association may be delegated to a corporation or other organization that:
(1) performs or will perform in two or more states functions similar to those of the association or its equivalent; and
(2) provides protection not substantially less favorable and effective than that provided by this chapter.
(b) A power or duty under Section 2602.101 (a)(1) or (4), 2602.107 , 2602.201 , 2602.202 , 2602.203 , or 2602.205 may not be delegated under this section.
(c) The corporation or other organization shall be:
(1) reimbursed as a servicing facility would be reimbursed; and
(2) paid for its performance of any other functions of the association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.