(a) The association may spend or advance money necessary to pay the expenses of administering the supervision, rehabilitation,
receivership, conservatorship, or, as determined by a court of competent jurisdiction,
other insolvency of an impaired title insurance company or impaired agent, on terms
the association negotiates, if the company's or agent's assets are insufficient to
pay those expenses.
(b) The association may file a claim in a receivership proceeding against an impaired
title insurance company or impaired agent to recover the association's reasonable
costs incurred in exercising the association's powers or performing the association's
duties under this chapter with respect to the impaired title insurance company or
impaired agent. Payment of a claim asserted by the association under this section in a receivership
proceeding in this state is governed by Section 443.301. Payment of a claim asserted by the association under this section in a receivership
proceeding in another state is governed by the law governing priority of payment of
distributions on unsecured claims by an insurance guaranty association in that state.
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