Texas Insurance Code 911.202 – Nonpayment of Premiums or Assessments: Filing of Action
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(a) A farm mutual insurance company may bring an action in the county in which the company’s home office is located against a policyholder who defaults on the payment of a premium or an assessment.
(b) The company is entitled to judgment against the policyholder for:
(1) delinquent premiums or assessments;
(2) foreclosure of the lien described by § 911.201; and
(3) the costs of an action, including a reasonable attorney’s fee.
Terms Used In Texas Insurance Code 911.202
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.