Texas Insurance Code 912.203 – Nonpayment of Premium or Assessment: Filing of Action
Current as of: 2024 | Check for updates
|
Other versions
(a) A county mutual insurance company may bring an action in the home county of the company against a policyholder who defaults on the payment of an assessment or premium.
(b) The company is entitled to judgment against the policyholder for:
(1) delinquent premiums or assessments;
(2) foreclosure of the lien described by Section 912.202; and
(3) the costs of an action, including a reasonable attorney’s fee in the amount of at least $5.
Terms Used In Texas Insurance Code 912.203
- 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.