Texas Insurance Code 2602.254 – Certain Conservator and Receiver Expenses Covered
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Terms Used In Texas Insurance Code 2602.254
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Reasonable and necessary administrative expenses incurred by a conservator appointed by the commissioner or a receiver appointed by a court for an unauthorized insurer operating in this state are covered claims if the commissioner has notified the association or the association has otherwise become aware that:
(1) the unauthorized insurer has insufficient liquid assets to pay those expenses; and
(2) insufficient money is available from:
(A) abandoned money under Section 443.304; and
(B) department appropriations for use in paying those expenses.