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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If money in the fund would be exhausted by the payment of all final and settled claims and final judgments during a fiscal year, the pool shall prorate the amount paid to each person having the claim or judgment.
(b) If the amount paid by the pool is prorated under this section, each person described by Subsection (a) shall receive an amount equal to the percentage that the amount owed to that person by the pool bears to the total amount owed, outstanding, and payable by the pool.
(c) The pool shall pay in the next fiscal year the remaining amount that is due and unpaid to a person who receives a prorated payment under this section.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 2209.308. Payment of Claims and Judgments - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2209-308/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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