{"data":{"id":"us-tx/tex.-insurance-code-462.101","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 462.101","heading":"GENERAL POWERS AND DUTIES.","body":"(a) The association may:\n(1) employ or retain persons as necessary to handle claims and perform other duties of the association;\n(2) borrow money necessary to implement this chapter in accordance with the plan of operation;\n(3) sue or be sued;\n(4) negotiate and enter into a contract as necessary to implement this chapter; and\n(5) perform other acts as necessary or proper to implement this chapter.\n(b) A contract authorized by Subsection (a)(4) includes a lump-sum or structured compromise and settlement agreement with a claimant who has a claim for medical or indemnity benefits for a period of three years or more, other than a settlement or lump-sum payment in violation of Subtitle A, Title 5, Labor Code.\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 C. GENERAL POWERS AND DUTIES OF ASSOCIATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.462.htm#462.101","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"33840669574e325fcd4a6bacc257c5485d1d769c70409a08ce03e1ce9872004c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-462.059","next":"us-tx/tex.-insurance-code-462.102"},"notice":"GroundRules: Original legal text. Not legal advice."}