{"data":{"id":"us-tx/tex.-insurance-code-462.002","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 462.002","heading":"PURPOSES.","body":"The purposes of this chapter are to:\n(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;\n(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;\n(3) assist in the detection and prevention of insurer insolvencies; and\n(4) provide an association to assess the cost of that protection among insurers.\nAdded by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.","path":["INSURANCE CODE","TITLE 4. REGULATION OF SOLVENCY","SUBTITLE D. GUARANTY ASSOCIATIONS","CHAPTER 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION","SUBCHAPTER A. GENERAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.462.htm#462.002","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"81597ea6776d9a6d322c92fdb0847d2ffc26bbab8f7861f00ad2fbbee7c7b7e0","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-462.001","next":"us-tx/tex.-insurance-code-462.003"},"notice":"GroundRules: Original legal text. Not legal advice."}