Tex. Ins. Code § 2602.209 · Subchapter E. ASSESSMENTS
FAILURE TO PAY; COLLECTION BY COMMISSIONER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The association shall promptly report to the commissioner a failure of a title insurance company to pay an assessment when due.
(b) On failure of a title insurance company to pay an assessment when due, the commissioner may either:
(1) suspend or revoke, after notice and hearing, the company's certificate of authority to engage in business in this state; or
(2) assess an administrative penalty as provided by Chapter 84 in an amount not to exceed the greater of five percent of the unpaid assessment each month or $100 each month.
(c) A title insurance company whose certificate of authority is canceled or surrendered is liable for any unpaid assessments made before the date of the cancellation or surrender.
(d) The commissioner may collect an assessment on behalf of the association through a suit brought for that purpose.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, 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.2602.htm
- Text hash
- sha256 a14e41f869ee0d6e44754071b4d3c9dd31005a6c90f43acc88a40f70dd5faa18
- 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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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.