Tex. Ins. Code § 463.157 · Subchapter D. ASSESSMENTS
REFUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may refund to member insurers the amount by which the association's assets, including any net realized gains and income from investments, exceed the amount the board determines is necessary to carry out the association's obligations regarding that amount during the next year.
(b) A refund must be made:
(1) by an equitable method established in the plan of operation; and
(2) in proportion to the contribution of each member insurer.
(c) The board may retain a reasonable amount to provide for the association's continuing expenses and for future losses if refunds are impractical.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, 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.463.htm
- Text hash
- sha256 5d551770f8a6bdd2d6c97e4f40f7e60d1c8bb86fee439ffce943cd1aa7e00ad8
- 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 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 463.157. Each shows the citation as that text prints it.
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.