Gavvy: Ins. Code, Sec. 462.253. Effect On Insured of Reduction in Amount of Covered Claim.

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Sec. 462.253. Effect On Insured of Reduction in Amount of Covered Claim.

Sec. 462.253. EFFECT ON INSURED OF REDUCTION IN AMOUNT OF COVERED CLAIM. To the extent that the association's obligation is reduced by the application of Sections 462.251 and 462.252, the liability of the person insured by the impaired insurer's policy for the claim is reduced in the same amount.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Gavvy last updated this database on: Sep 6, 2024