§ 2602.301 General Powers and Duties of Association in Connection With Payment of Covered Claims
§ 2602.302 Payment of Covered Claims
§ 2602.303 Servicing Facility
§ 2602.304 Advance as Loan
§ 2602.305 Association in Place of Impaired Title Insurance Company or Agent
§ 2602.306 Assignment of Claimant’s Rights
§ 2602.307 Settlement by Association Binding; Priority of Claim and Expenses
§ 2602.308 Report to Receiver
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Terms Used In Texas Insurance Code Chapter 2602 > Subchapter G - Association Powers and Duties Relating to Covered Claims

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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
  • Property: means real and personal property. 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.
  • Year: means 12 consecutive months. See Texas Government Code 311.005