Texas Insurance Code 2210.053 – Operation of Association
(a) In accordance with this chapter and the plan of operation, and with respect to insurance on insurable property, the association, on behalf of the association’s members, may:
(1) cause issuance of insurance policies to applicants for insurance coverage;
(2) assume reinsurance from the members;
(3) cede reinsurance to the members; and
(4) purchase reinsurance on behalf of the members.
(b) The department may develop programs to improve the efficient operation of the association, including a program for approving policy forms under § 2301.010 and a program designed to create incentives for insurers to write windstorm and hail insurance voluntarily to cover property located in a catastrophe area, especially property located on the barrier islands of this state.
Terms Used In Texas Insurance Code 2210.053
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Property: means real and personal property. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
(c) The association may not be considered a debtor authorized to file a petition or seek relief in bankruptcy under Title 11, United States Code.