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2021 Texas Statutes
Labor Code
Title 5 - Workers' Compensation
Subtitle A - Texas Workers' Compensation Act
Chapter 407A - Group Self-Insurance Coverage
Subchapter J. Texas Self-Insurance Group Guaranty Fund
Section 407A.461. Possession of Security by Guaranty Fund
Universal Citation: TX Lab Code § 407A.461 (2021)
Sec. 407A.461. POSSESSION OF SECURITY BY GUARANTY FUND. On the assumption of obligations on behalf of an insolvent group by the guaranty fund under the commissioner's determination, the guaranty fund is entitled to immediate possession of any assets of the insolvent group and any security deposited or the proceeds of any surety bond deposited by the insolvent group, along with all interest on the security. All assessments from members of the insolvent group shall be paid to the guaranty fund.
Added by Acts 2005, 79th Leg., Ch. 1055 (H.B. 1353), Sec. 1, eff. September 1, 2005.
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