Texas Insurance Code - Section 261.003. Maximum Rate; Annual Adjustment
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§ 261.003. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The
rate of assessment set by the commissioner may not exceed one
percent of the gross premiums subject to taxation under Section
261.004.
(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 all classes of
insurance specified under Article 1.14-3.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Section: 260.001 260.002 260.003 260.004 260.005 261.001 261.002 261.003 261.004 261.005 271.001 271.002 271.003 271.004 271.005
Last modified: August 11, 2007
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