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Texas Insurance Code - INS § 2210.632. Financing Arrangement Authorized;  Limits

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The association may enter into a financing arrangement with this state as provided by Section 404.0242, Government Code, and in accordance with this subchapter:

(1) before a catastrophic event, for not more than $500 million;  and

(2) after a catastrophic event that depletes the catastrophe reserve trust fund, for not more than $1 billion.

(b) The amount available under Subsection (a)(2) is reduced by the amount of any outstanding pre-event or post-event financing obtained by the association under this section.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.632. Financing Arrangement Authorized;  Limits - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-632/

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