Amend Section 1, HB 3177 to read as follows:
      SECTION 1.  Section 8(d), Article 21.28-C, Insurance Code, is
amended to read as follows:
      (d)  The association shall investigate and adjust,
compromise, settle, and pay covered claims to the extent of the
association's obligation and deny all other claims. The association
may review settlements, releases, and judgments to which the
impaired insurer or its insureds were parties to determine the
extent to which those settlements, releases, and judgements may be
properly contested. Any judgment taken by default or consent
against an insured or the impaired insurer, is not binding on the
association, and may not be considered as evidence of liability or
of damages in connection with any claim brought against the
association or any other party under this Act. Notwithstanding any
other provision of this Act or of Article 21.28 of this code, a
covered claim shall not include any claim filed with the guaranty
association after <the later of the final date for filing claims
against the liquidator or receiver of an insolvent insurer, or>
eighteen months following <after> the order of impairment
<liquidation> unless the court shall find that a compelling reason
exists for the time to be extended to address unusual or
extenuating circumstances.