Tex. Codes » Insurance Code · TITLE 4. REGULATION OF SOLVENCY · SUBTITLE B. RESERVES AND INVESTMENTS · CHAPTER 422. ASSET PROTECTION ACT
Texas Codes

Tex. Ins. Code § 422.054 (2026)

Preferential Claims On Liquidation

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Sec. 422.054. PREFERENTIAL CLAIMS ON LIQUIDATION. If an insurer is involuntarily or voluntarily liquidated, a claimant of the insurer has a prior and preferential claim against all assets of the insurer other than the assets that have been pledged or encumbered in accordance with this chapter or the assets that are subject to a pledge or encumbrance of an asset described by Section 422.053(b)(2). All claimants have equal status, and their prior and preferential claim is superior to any claim or cause of action against the insurer by any other person, corporation, association, or legal entity.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Amended by:

Acts 2021, 87th Leg., R.S., Ch. 61 (S.B. 1954), Sec. 8, eff. September 1, 2021.

Notes of Decisions
Cited in 3 cases, 2011–2011 · leading case: John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, 354 S.W.3d 843 (Tex. App.—Austin 2011).
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John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, 354 S.W.3d 843 (Tex. App.—Austin 2011). “Laws 1372 , 1372-75 (as amended, repealed 2005) (current version at Tex. Ins.Code Ann. § 422.002) (emphasis added).”
John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, No. 03-10-00385-CV (Tex. App.—Austin Aug. 26, 2011). “Laws 1372 , 1372-75 (as amended, repealed 2005) (current version at Tex. Ins. Code Ann. § 422.002 ) (emphasis added).”
John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, No. 03-10-00385-CV (Tex. App.—Austin Aug. 26, 2011). “§ 5 (current version at Tex. Ins. Code Ann. § 422.054 ). 22 “covered claims” to unpaid claims of “insureds” and “third-party claimants.”
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