Sec. 463.251. IMPAIRED DOMESTIC INSURER. (a) This section applies only to a member insurer that is an impaired domestic insurer. (b) With the commissioner's approval, the association may: (1) guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, one or more of the insurer's policies or contracts; (2) provide money, pledges, notes, guarantees, or other means proper to: (A) implement Subdivision (1); and (B) ensure payment of the insurer's contractual obligations until action is taken under Subdivision (1); or (3) loan money to the insurer. (c) In taking action under Subsection (b), the association may impose any condition that: (1) does not impair the insurer's contractual obligations; and (2) is approved by: (A) the commissioner; and (B) the insurer, except in a conservation or rehabilitation ordered by a court.
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