Texas Insurance Code - Section 260.002. Maximum Rate; Annual Adjustment
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§ 260.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The
rate of assessment set by the commissioner may not exceed one
percent of the corporation's gross revenues subject to taxation
under Section 260.003.
(b) The commissioner shall annually adjust the rate of
assessment of the maintenance tax so that the tax imposed that year,
together with any unexpended funds produced by the tax, produces
the amount the commissioner determines is necessary to pay the
expenses during the succeeding year of regulating nonprofit legal
services corporations.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Section: 258.005 259.001 259.002 259.003 259.004 259.005 260.001 260.002 260.003 260.004 260.005 261.001 261.002 261.003 261.004
Last modified: August 11, 2007
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