Tex. Ins. Code § 224.002 · Chapter 224. RECIPROCAL AND INTERINSURANCE EXCHANGE PREMIUM TAX
TAX IMPOSED; RATE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An annual tax is imposed on each reciprocal or interinsurance exchange that:
(1) does not file an election to be subject to the tax imposed by Chapter 221 in accordance with Section 224.003; or
(2) withdraws that election.
(b) The rate of the tax is 1.7 percent of the reciprocal or interinsurance exchange's gross premium receipts.
(c) A reciprocal or interinsurance exchange that is subject to the tax imposed by this chapter is not subject to the tax imposed by Chapter 221.
(d) Except as provided by Subsection (b), Chapter 221 applies to the imposition, computation, and administration of the tax imposed by this chapter in the same manner that Chapter 221 applies to the tax imposed by that chapter.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.224.htm
- Text hash
- sha256 a292cfacb7f2c7e4c3f91f52bee71c690516505908d2d99a8952893b0f8127c9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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