Texas Insurance Code 553.003 – Violation by Insurer
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Terms Used In Texas Insurance Code 553.003
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
An insurer violates this chapter if the insurer fails to comply with a claim brought under this chapter by:
(1) denying the claim on the grounds that the claim is not timely; or
(2) asserting a statute of limitations defense in an action brought under § 553.002.