Texas Insurance Code 541.156 – Settlement Offer
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(a) A person who receives notice provided under § 541.154 or 542A.003 may make a settlement offer during a period beginning on the date notice under § 541.154 or 542A.003 is received and ending on the 60th day after that date.
(b) In addition to the period described by Subsection (a), the person may make a settlement offer during a period:
(1) if mediation is not conducted under § 541.161, beginning on the date an original answer is filed in the action and ending on the 90th day after that date; or
(2) if mediation is conducted under § 541.161, beginning on the day after the date the mediation ends and ending on the 20th day after that date.
Terms Used In Texas Insurance Code 541.156
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.