Sec. 462.002. PURPOSES. The purposes of this chapter are to:
(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;
(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;
(3) assist in the detection and prevention of insurer insolvencies; and
(4) provide an association to assess the cost of that protection among insurers.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
