Texas § IN.443.009 - STATUTES OF LIMITATIONS

§ IN.443.009. STATUTES OF LIMITATIONS

STATUTES OF LIMITATIONS. (a) If applicable law, an order, or an agreement fixes a period within which the insurer may commence an action, and this period has not expired before the date of the filing of the initial petition in a delinquency proceeding, the receiver may commence an action only before the later of: (1) the end of the period, including any suspension of the period occurring on or after the filing of the initial petition in a delinquency proceeding; or (2) four years after the later of the date of entry of an order for either rehabilitation or liquidation. (b) Except as provided by Subsection (a), if applicable law, an order, or an agreement fixes a period within which the insurer may file any pleading, demand, notice, or proof of claim or loss, cure a default in a case or proceeding, or perform any other similar act, and the period has not expired before the date of the filing of the petition initiating formal delinquency proceedings, the receiver may file, cure, or perform, as the case may be, only before the later of: (1) the end of the period, including any suspension of the period occurring on or after the filing of the initial petition in the delinquency proceeding; or (2) 60 days after the later of the date of entry of an order for either rehabilitation or liquidation. (c) If applicable law, an order, or an agreement fixes a period for commencing or continuing a civil action in a court other than the receivership court on a claim against the insurer, and the period has not expired before the date of the initial filing of the petition in a delinquency proceeding, then the period does not expire until the later of: (1) the end of the period, including any suspension of the period occurring on or after the filing of the initial petition in the delinquency proceeding; or (2) 30 days after termination or expiration of the stay under Section 443.008 with respect to the claim. (d) If the otherwise applicable limitations period has not expired prior to the initial filing of the petition commencing a delinquency proceeding, any other action or proceeding filed by a receiver may be commenced at any time within four years after the date upon which the cause of action accrues or four years after the date on which the receiver is appointed, whichever is later. Added by Acts 2005, 79th Leg., Ch. 995 (H.B. 2157 ), Sec. 1, eff. September 1, 2005. Redesignated from Insurance Code - Not Codified, Art/Sec 21A.009 by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 3B.004(a)(1), eff. September 1, 2007. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 3B.004(e), eff. September 1, 2007. Redesignated from Insurance Code - Not Codified, Art/Sec 21A.009 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167 ), Sec. 9.004(a)(1), eff. September 1, 2007. Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167 ), Sec. 9.004(e), eff. September 1, 2007.