Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The plan of operation must:
(1) provide for the efficient, economical, fair, and nondiscriminatory administration of the association; and
(2) include:
(A) a plan for the equitable assessment of the members of the association to defray losses and expenses;
(B) underwriting standards;
(C) procedures for accepting and ceding reinsurance;
(D) procedures for obtaining and repaying amounts under any financial instruments authorized under this chapter;
(E) procedures for determining the amount of insurance to be provided to specific risks;
(F) time limits and procedures for processing applications for insurance;
(G) a requirement that a nonresident agent licensed under Section 4056.052 may not offer or sell a Texas windstorm and hail insurance policy under this chapter unless the nonresident agent's state of residence authorizes a resident agent licensed in this state to act in the nonresident agent's state as an agent for that state's residual insurer of last resort for windstorm and hail insurance; and
(H) other provisions as considered necessary by the department to implement the purposes of this chapter.
(b) The plan of operation may provide for liability limits for an insured structure and for the corporeal movable property located in the structure.
(c) The plan of operation shall require the association to use the claim settlement guidelines published by the commissioner under Section 2210. 578(f) in evaluating the extent to which a loss to insured property is incurred as a result of wind, waves, tidal surges, or rising waters not caused by waves or surges.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.152. Contents of Plan of Operation - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-152/
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 or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)