1. (a) A claim for unearned premiums is a covered claim. A covered claim for unearned premiums may not exceed $25,000.

2. (b) With respect to a covered claim for unearned premiums, a person has a covered claim under this chapter if the person is a resident of this state at the time:

   1. (1) the policy is issued; or
   2. (2) the insurer is determined to be an impaired insurer.
3. (c) A person has a covered claim under this chapter if the person holds a valid assignment of a covered claim for unearned premiums under Subsections (a) and (b).

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

Acts 2015, 84th Leg., R.S., Ch. 1188 (S.B. 1227), Sec. 1, eff. June 19, 2015.