Texas Insurance Code 2602.452 – Actions for Certain Agents
Current as of: 2024 | Check for updates
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(a) The commissioner may direct the association, at the association’s expense and on behalf of an impaired agent, to:
(1) close real estate transactions;
(2) disburse escrow funds;
(3) record documents; and
(4) issue final title insurance policies.
(b) The association may employ or retain a person or persons to perform any action required under Subsection (a), in accordance with Section 2602.103(a).
Terms Used In Texas Insurance Code 2602.452
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005