(a) The commissioner may direct the association, at the association’s expense and on behalf of an impaired agent, to:
(1) close real estate transactions;
(2) disburse escrow funds;
(3) record documents; and
(4) issue final title insurance policies.
(b) The association may employ or retain a person or persons to perform any action required under Subsection (a), in accordance with Section 2602.103(a).

Terms Used In Texas Insurance Code 2602.452

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
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