Tex. Ins. Code § 981.005

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 981.005 - Validity of Contracts

(a) Unless a material and intentional violation of this chapter or Chapter 225 exists, an insurance contract obtained from an eligible surplus lines insurer is:

(1) valid and enforceable as to all parties; and

(2) recognized in the same manner as a comparable contract issued by an authorized insurer.

(b) A material and intentional violation of this chapter or Chapter 225 does not preclude the insured from enforcing the insured's rights under the contract.

Tex. Ins. Code § 981.005

Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 2E.125, eff. 4/1/2009.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.