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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 Class 1 Public Security Obligation Revenue Fund Amounts

(a) Excess revenue collected to fund class 1 public security obligations that is disbursed to the Association shall be an asset of the Association and may be used for any purpose authorized in the Insurance Code §2210.056 or deposited into the catastrophe reserve trust fund.

(b) As specified in the 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.


Source Note: The provisions of this §5.4142 adopted to be effective February 3, 2011, 36 TexReg 551

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