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Texas Labor Code - Section 407.126. Trust Fund; Fee; Schedule

Legal Research Home > Texas Lawyer > Labor Code > Texas Labor Code - Section 407.126. Trust Fund; Fee; Schedule

§ 407.126. TRUST FUND;  FEE;  SCHEDULE.  (a) Each member 
of the association shall be assessed a fee, based on total amount of 
income benefits payments made in this state for the preceding 
reported calendar year, to create, over a period of 10 years 
beginning January 1, 1993, a Texas certified self-insurer guaranty 
trust fund of at least $1 million for the emergency payment of the 
compensation liabilities of an impaired employer.  The fund may not 
exceed $2 million.
	(b)  The board of directors shall adopt a year-by-year 
schedule of assessments to meet the 10-year funding goal of the 
trust fund.
	(c)  The assessment for the first year after an employer is 
issued a certificate of authority to self-insure shall be based on 
the income benefit payments paid by the employer's insurance 
carrier on the employer's policy in the year before the certificate 
was issued.
	(d)  The board of directors shall administer the trust fund 
in accordance with rules adopted by the commissioner.

Acts 1993, 73rd Leg., ch. 269, § 1, eff. Sept. 1, 1993.  Amended 
by Acts 1995, 74th Leg., ch. 980, § 1.24, eff. Sept. 1, 1995;  
Acts 2005, 79th Leg., ch. 265, § 3.066, eff. Sept. 1, 2005.

Last modified: August 10, 2007