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TITLE 28INSURANCE
PART 1TEXAS DEPARTMENT OF INSURANCE
CHAPTER 5PROPERTY AND CASUALTY INSURANCE
SUBCHAPTER ETEXAS WINDSTORM INSURANCE ASSOCIATION
DIVISION 3LOSS FUNDING, INCLUDING CATASTROPHE RESERVE TRUST FUND, FINANCING ARRANGEMENTS, AND PUBLIC SECURITIES
RULE §5.4142Excess Obligation Revenue Fund Amounts

(a) Excess revenue collected in the obligation revenue fund that is disbursed to the association is an asset of the association and may be used for any purpose authorized in Insurance Code §2210.056, including as provided in §5.4127 of this division (relating to Payment of Class 2 Public Securities Issued Under §5.4126 and Repayment of Premium Surcharges and Member Assessments), or deposited in the CRTF.

(b) As specified in Insurance Code §2210.072(a), class 1 public securities may be repaid before their full term if the association's board of directors elects to do so and the commissioner approves it.


Source Note: The provisions of this §5.4142 adopted to be effective February 3, 2011, 36 TexReg 551; amended to be effective June 12, 2014, 39 TexReg 4435

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