Tex. Ins. Code Section 829.153
Rights of Members Whose Policies Are Issued After Adoption of Conversion Plan but Before Effective Date

(a)

On issuance of a policy after a conversion plan has been adopted by the board of directors but before the effective date of the conversion plan, the converting exchange shall send to each member to whom a policy is issued a written notice regarding the conversion plan.

(b)

Except as provided by Subsection (c), each member insured under a property or casualty insurance policy is entitled to notice under Subsection (a) and shall be advised in a clear and conspicuous manner of the member’s right to:

(1)

cancel the policy; and

(2)

receive a pro rata refund of unearned premiums.

(c)

A member who has made or filed a claim under the insurance policy is not entitled to a refund under Subsection (b). A member who has exercised a right provided by Subsection (b) may not make or file a claim under the insurance policy.
Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056), Sec. 1, eff. June 15, 2007.

Source: Section 829.153 — Rights of Members Whose Policies Are Issued After Adoption of Conversion Plan but Before Effective Date, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­829.­htm#829.­153 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 829.153’s source at texas​.gov