Sec. 462.151. MAKING OF ASSESSMENT; AMOUNT. (a) The association shall assess member insurers the amount necessary to pay:
(1) the association's obligations under Section 462.302 and the expenses of handling covered claims subsequent to an insolvency; and
(2) other expenses authorized by this chapter.
(b) The assessment of each member insurer must be in the proportion that the net direct written premiums of the insurer for the calendar year preceding the assessment bear to the net direct written premiums of all member insurers for that year.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Section: Previous 462.109 462.110 462.111 462.112 462.1121 462.113 462.114 462.151 462.152 462.153 462.154 462.155 462.156 462.157 462.158 NextLast modified: September 28, 2016