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Tex. Ins. Code § 2211.105

RETENTION AND USE OF PROFITS BY ASSOCIATION

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff

(a) The association shall retain any profits of the association to be used for the purposes of the association.

(b) The association:

(1) shall use the profits to mitigate losses, including purchasing reinsurance and offsetting future assessments; and

(2) may not distribute the profits to insurers.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.