Sec. 1201.409. PAYMENT BY SURETY OR FROM OTHER SECURITY. (a) Except as otherwise provided by Subchapter C, the manufactured homeowner consumer claims program shall be reimbursed by the surety on a bond or from other security filed under Subchapter C for the amount of a claim that is paid out under the manufactured homeowner consumer claims program by the director to a consumer in accordance with this subchapter.
(b) Payment by the surety or from the other security must be made not later than the 30th day after the date of notice from the director that a consumer claim has been paid.
(c) If payment to the manufactured homeowner consumer claims program of a claim is not made by the surety or from the other security in a timely manner, the attorney general shall file suit for recovery of the amount due the manufactured homeowner consumer claims program. Venue for the suit is in Travis County.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 863 (H.B. 1460), Sec. 50, eff. January 1, 2008.
Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 57, eff. September 1, 2017.
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