Sec. 2210.0725. PAYMENT FROM CLASS 1 ASSESSMENTS. (a) Losses in a catastrophe year not paid under Sections 2210.0715 and 2210.072 shall be paid as provided by this section from Class 1 member assessments not to exceed $500 million for that catastrophe year.
(b) The association, with the approval of the commissioner, shall notify each member of the amount of the member's assessment under this section. The proportion of the losses allocable to each insurer under this section shall be determined in the manner used to determine each insurer's participation in the association for the year under Section 2210.052.
(c) A member of the association may not recoup an assessment paid under this section through a premium surcharge or tax credit.
Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 7, eff. September 1, 2015.
Section: Previous 2210.059 2210.060 2210.061 2210.062 2210.071 2210.0715 2210.072 2210.0725 2210.073 2210.074 2210.0741 2210.0742 2210.075 2210.101 2210.102 NextLast modified: September 28, 2016