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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Any cause of action or other right of the holder of a covered claim arising from the occurrence on which the claim is based is assigned to the association on the holder's acceptance of:
(1) the association's payment of the claim; or
(2) a benefit of a contract by the association providing for reinsurance or assumption of liabilities or for substitution.
(b) Rights are assigned to the association under Subsection (a) to the extent of the amount accepted or the value of the benefit provided.
(c) The association may assign the rights acquired under this section to the title insurance company executing the reinsurance, assumption, or substitution agreement.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 2602.306. Assignment of Claimant's Rights - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2602-306/
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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