Tex. Ins. Code § 2251.153 · Subchapter D. PRIOR APPROVAL OF RATES UNDER CERTAIN CIRCUMSTANCES
COMMISSIONER ACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Not later than the 30th day after the date a rate is filed with the department under this subchapter, the commissioner shall:
(1) approve the rate if the commissioner determines that the rate complies with the requirements of this chapter; or
(2) disapprove the rate if the commissioner determines that the rate does not comply with the requirements of this chapter.
(b) Except as provided by Subsection (c), if a rate has not been approved or disapproved by the commissioner before the expiration of the 30-day period described by Subsection (a), the rate is considered approved and the insurer may use the rate unless the rate proposed in the filing represents an increase of 12.5 percent or more from the insurer's previously filed rate.
(c) For good cause, the commissioner may, on the expiration of the 30-day period described by Subsection (a), extend the period for approval or disapproval of a rate for one additional 30-day period. The commissioner and the insurer may not by agreement extend the 30-day period described by Subsection (a).
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2251.htm
- Text hash
- sha256 42c8d4cb1ac7906d8822e4499103ceafcafd3d2f0f20165f1f1af74dfe2f777e
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 2251.153. Each shows the citation as that text prints it.
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