(a) An agent or, if there is no agent, the title insurance company shall pay the association a quarterly guaranty fee for each owner or mortgagee title insurance policy that the agent or company is required to report on its statistical report to the department.
(b) The fee is due:
(1) May 1, for the quarter ending March 31;
(2) August 1, for the quarter ending June 30;
(3) November 1, for the quarter ending September 30; and
(4) February 1, for the quarter ending December 31.
(c) The association shall deposit the fee in the guaranty fee account.
(d) Except as provided by Section 2602.109, money in the guaranty fee account shall be derived only from guaranty fees as provided by this subchapter.