Texas § IN.422.054 - PREFERENTIAL CLAIMS ON LIQUIDATION
Full text of Texas The Texas Constitution § IN.422.054 — PREFERENTIAL CLAIMS ON LIQUIDATION, with citation guidance and answers to common questions.
§ IN.422.054. PREFERENTIAL CLAIMS ON LIQUIDATION
PREFERENTIAL CLAIMS ON LIQUIDATION. If an insurer is involuntarily or voluntarily liquidated, a claimant of the insurer has a prior and preferential claim against all assets of the insurer other than the assets that have been pledged or encumbered in accordance with this chapter or the assets that are subject to a pledge or encumbrance of an asset described by Section 422.053 (b)(2). All claimants have equal status, and their prior and preferential claim is superior to any claim or cause of action against the insurer by any other person, corporation, association, or legal entity. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. Amended by: Acts 2021, 87th Leg., R.S., Ch. 61 (S.B. 1954 ), Sec. 8, eff. September 1, 2021.
Frequently Asked Questions About Texas § IN.422.054
What does The Texas Constitution § IN.422.054 cover?
Section IN.422.054 ("PREFERENTIAL CLAIMS ON LIQUIDATION") 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.422.054?
A common citation format is "The Texas Constitution § IN.422.054" (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.422.054 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.