§ 187.15

10 Tex. Admin. Code § 187.15

Limitations on State's Liability

Effective Aug 5, 201237 TexReg 5735Source Note: The provisions of this §187.15 adopted to be effective September 15, 1997, 22 TexReg 8967; amended to be effective August 5, 2012, 37 TexReg 5735.Texas Secretary of State

(a) The liability of either the Office or the state is limited to the proceeds contributed to the reserve of a participating financial institution.
(b) In no instance shall the liability of either the state or the Office be extended beyond the capacity of the participating financial institution's established reserve account.

Source Note:The provisions of this §187.15 adopted to be effective September 15, 1997, 22 TexReg 8967; amended to be effective August 5, 2012, 37 TexReg 5735.