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Texas Insurance Code - Section 463.159. Failure To Pay; Collection By Commissioner

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 463.159. Failure To Pay; Collection By Commissioner

§ 463.159. FAILURE TO PAY;  COLLECTION BY 
COMMISSIONER.  On failure of a member insurer to pay an assessment 
when due, the commissioner may either:
		(1)  suspend or revoke, after notice and hearing, the 
insurer's certificate of authority to engage in the business of 
insurance in this state;  or
		(2)  levy a forfeiture in an amount not less than $100 
each month or more than five percent of the unpaid assessment each 
month.

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

Last modified: August 11, 2007