Texas § OC.702.253 - ADJUDICATION ON PRO RATA BASIS

Full text of Texas The Texas Constitution § OC.702.253 — ADJUDICATION ON PRO RATA BASIS, with citation guidance and answers to common questions.

§ OC.702.253. ADJUDICATION ON PRO RATA BASIS

ADJUDICATION ON PRO RATA BASIS. If the total amount of actual financial losses computed under Section 702.252 for all claims filed under Section 702.251 exceeds the amount of available security, the secretary of state shall reduce the amount of each recovery under Section 702.252 on a pro rata basis and shall compute the amount of each recovery by: (1) dividing the amount of available security by the total amount of actual financial losses computed under Section 702.252 for all claims; and (2) multiplying the results computed under Subdivision (1) by the amount of the recovery. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 756, Sec. 1, eff. Sept. 1, 2001.

Related Texas Legal Topics

Frequently Asked Questions About Texas § OC.702.253

What does The Texas Constitution § OC.702.253 cover?

Section OC.702.253 ("ADJUDICATION ON PRO RATA BASIS") 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 § OC.702.253?

A common citation format is "The Texas Constitution § OC.702.253" (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 § OC.702.253 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.