Texas Insurance Code - Section 462.106. Administrative Expenses
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§ 462.106. ADMINISTRATIVE EXPENSES. (a) The association
may use money in the administrative account to pay administrative
costs and other general expenses of the association.
(b) The association may transfer income from investment of
the association's money to the administrative account.
(c) On notification by the association of the amount of any
additional money needed for the administrative account, the
association shall assess member insurers in the manner provided by
Sections 462.159-462.168 for that money. The commissioner shall
consider the net direct written premiums collected in this state
for all lines of business covered by this chapter. An assessment
for administrative expenses incurred by a supervisor or conservator
appointed by the commissioner or a court-appointed receiver for a
nonmember of the association or unauthorized insurer operating in
this state may not exceed $1 million each calendar year.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 462.058 462.059 462.101 462.102 462.103 462.104 462.105 462.106 462.107 462.108 462.109 462.110 462.112 462.113 462.114
Last modified: August 10, 2007
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