Texas § IN.1272.156 - ESCROW ACCOUNT
Full text of Texas The Texas Constitution § IN.1272.156 — ESCROW ACCOUNT, with citation guidance and answers to common questions.
§ IN.1272.156. ESCROW ACCOUNT
ESCROW ACCOUNT. (a) A delegated network required to maintain reserves under this subchapter shall establish an escrow account to pay claims and deposit the reserves into the escrow account on: (1) notification of the network's intent to terminate or refuse to renew a contract under which the network assumed liabilities and risks from a health maintenance organization; or (2) modification of a contract under which the network assumed liabilities and risks from a health maintenance organization if the modified contract eliminates those liabilities and risks. (b) The delegated network shall notify the commissioner on establishing an escrow account under this section. (c) On the 271st day after the date the reserves are deposited into the escrow account, the delegated network is entitled to the release of funds remaining in escrow. Funds released from the escrow account shall be distributed to each individual who contributed to the reserves deposited into the account in proportion to the individual's total contribution. (d) The commissioner shall take any action necessary to ensure the release of funds remaining in escrow after the date specified by Subsection (c). Added by Acts 2003, 78th Leg., ch. 1274, Sec. 3, eff. April 1, 2005. SUBCHAPTER E. COMPLIANCE
Frequently Asked Questions About Texas § IN.1272.156
What does The Texas Constitution § IN.1272.156 cover?
Section IN.1272.156 ("ESCROW ACCOUNT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.1272.156?
A common citation format is "The Texas Constitution § IN.1272.156" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.1272.156 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.