Texas Insurance Code - Section 463.153. Amount Of Assessments
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§ 463.153. AMOUNT OF ASSESSMENTS. (a) The board shall
determine the amount of a Class A assessment for each account under
Section 463.105, considering with respect to member insurers one or
more of the following as shown by annual statements for the year
preceding the date of the assessment:
(1) annual premium receipts;
(2) admitted assets; or
(3) insurance in force.
(b) Class B assessments against a member insurer for each
account under Section 463.105 shall be made in the proportion that
premiums received on all business by the insurer on policies
covered by each account bear to the premiums received on all
business by all assessed member insurers. The amount of a Class B
assessment shall be divided among the separate accounts in the
proportion that the premiums on the policies covered by each
account were received by the impaired or insolvent insurer from all
covered policies during the year preceding the date of the
impairment, as shown in the annual statements for the year
preceding the date of the assessment.
(c) The total amount of assessments on a member insurer for
each account under Section 463.105 may not exceed one percent of the
insurer's premiums on the policies covered by the account in a
single calendar year. If the maximum assessment and the other
assets of the association do not provide in a year an amount
sufficient to carry out the association's responsibilities, the
association shall make necessary additional assessments as soon as
this chapter permits.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 463.110 463.111 463.112 463.113 463.114 463.151 463.152 463.153 463.154 463.155 463.156 463.157 463.158 463.159 463.160
Last modified: August 10, 2007
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