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Tex. Ins. Code § 462.152

MAXIMUM TOTAL ASSESSMENT

Known as the Texas Property and Casualty Insurance Guaranty Act

The act spans §§ 462–462 (90 sections).

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff

(a) The total assessment of a member insurer in a year may not exceed an amount equal to two percent of the insurer's net direct written premiums for the calendar year preceding the assessment.

(b) If the maximum assessment and the association's other assets are insufficient in a year to make all necessary payments, the money available shall be prorated and the association shall pay the unpaid portion as soon as money becomes available.

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