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Texas Insurance Code - Section 401.151. Expenses Of Examination Of Domestic Insurer

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 401.151. Expenses Of Examination Of Domestic Insurer

§ 401.151. EXPENSES OF EXAMINATION OF DOMESTIC 
INSURER.  (a) A domestic insurer examined on behalf of this state 
by the department or under the department's authority shall pay the 
expenses of the examination in an amount the commissioner certifies 
as just and reasonable.
	(b)  The department shall collect an assessment at the time 
of the examination to cover all expenses attributable directly to 
that examination, including:
		(1)  the salaries and expenses of department employees;  
and                
		(2)  expenses described by Section 803.007.                                   
	(c)  The department shall also impose an annual assessment on 
domestic insurers in an amount sufficient to meet all other 
expenses and disbursements necessary to comply with the laws of 
this state relating to the examination of insurers.
	(d)  In determining the amount of the assessment under 
Subsection (c), the department:
		(1)  shall consider:                                                          
			(A)  the insurer's annual premium receipts or 
admitted assets, or both, that are not attributable to 90 percent of 
pension plan contracts as defined by Section 818(a) , Internal 
Revenue Code of 1986;  or
			(B)  the total amount of the insurer's insurance 
in force;  and            
		(2)  may not consider insurance premiums for insurance 
contracted for by a state or federal governmental entity to provide 
welfare benefits to designated welfare recipients or contracted for 
in accordance with or in furtherance of Title 2, Human Resources 
Code,  or the federal Social Security Act (42 U.S.C. Section 301 et 
seq.).
	(e)  The amount of all examination and evaluation fees paid 
to the state by an insurer in each taxable year shall be allowed as a 
credit on the amount of premium taxes due under this subchapter.

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 11, 2007