INSOLVENT INSURER.
Tex. INS Code § 463.253.
in effect(a) This section applies only to a member insurer that is an insolvent insurer.
(b) The association shall provide money, pledges, guarantees, or other means reasonably necessary to discharge the insurer's duties and to:
(1) guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, the insurer's policies or contracts; or
(2) ensure payment of the insurer's contractual obligations.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.