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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) For each 1,000 members and fraction of 1,000 members, a group hospital service corporation shall deposit $100 with the comptroller through the commissioner. The total deposit required under this subsection may not exceed $2,000.
(b) The deposit required under Subsection (a) shall be used to pay any judgment entered against the group hospital service corporation and is subject to garnishment after a final judgment is entered.
(c) The group hospital service corporation shall immediately replenish the amount on deposit if the amount is impounded or impaired. If the amount is not replenished immediately on the demand of the commissioner, the corporation may be regarded as insolvent and treated accordingly.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 842.203. Final Judgment Deposit - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-842-203/
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