Termination of Catastrophe Reserve Trust Fund

(a) The catastrophe reserve trust fund may be terminated only by law.

(b) On termination of the trust fund, all assets of the catastrophe reserve trust fund revert to the state and shall be used by the department to provide funding for the annual loss mitigation and preparedness plan established under the Insurance Code §2210.454.

Source Note: The provisions of this §5.4112 adopted to be effective February 3, 2011, 36 TexReg 551.