Sec. 462.002. PURPOSES. The purposes of this chapter are to:
(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;
(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;
(3) assist in the detection and prevention of insurer insolvencies; and
(4) provide an association to assess the cost of that protection among insurers.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Notes of Decisions
John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, 354 S.W.3d 843 (Tex. App.—Austin 2011).
“Laws 252 , 264 (repealed 2005) ("The purpose of this Act is to: (1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment; (2) avoid financial loss to claimants or policyholders because of the impairment of an…”
John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, No. 03-10-00385-CV (Tex. App.—Austin Aug. 26, 2011).
· cites it 5× “The parties cite to the current version of the statute, Tex. Ins. Code Ann. §§ 462.002 -.351 (West 2009), which is a nonsubstantive codification of the statute with an effective date of April 1, 2007.”
John H. Carney & Assocs. v. Texas Prop. & Cas. Ins. Guar. Ass'n, No. 03-10-00385-CV (Tex. App.—Austin Aug. 26, 2011).
· cites it 5× “The parties cite to the current version of the statute, Tex. Ins. Code Ann. §§ 462.002 -.351 (West 2009), which is a nonsubstantive codification of the statute with an effective date of April 1, 2007.”
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