Your FREE and easy resource for all things Texas workers' compensation
At a Glance:
Possession Of Security By Association

§ 407.128

Possession Of Security By Association

On the assumption of obligations by the association under the commissioner's determination, the association is entitled to immediate possession of any deposited security, and the custodian, surety, or issuer of an irrevocable letter of credit shall deliver the security to the association with any accrued interest.

Acts 1993, 73rd Leg., ch. 269, § 1, eff. Sept. 1, 1993.

Amended by:

Acts 2005, 79th Leg., Ch. 265 (H.B. 7), § 3.068, eff. September 1, 2005.

End of Document