reglab/housing_qa huggingface dataset:
TX Ins Code § 228.351 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle B - Insurance Premium Taxes|Chapter 228 - Premium Tax Credit for Certain Investments|Subchapter H. Recapture and Forfeiture of Premium Tax Credits|Section 228.351. Recapture and Forfeiture of Premium Tax Credit Following Decertification

Sec. 228.351.  RECAPTURE AND FORFEITURE OF PREMIUM TAX CREDIT FOLLOWING DECERTIFICATION.  (a)  Decertification of a certified capital company may, in accordance with this section, cause:(1)  the recapture of premium tax credits previously claimed by the company's certified investors; and(2)  the forfeiture of future premium tax credits to be claimed by the investors.(b)  Decertification of a certified capital company on or before the third anniversary of the company's allocation date causes the recapture of any premium tax credits previously claimed and the forfeiture of any future premium tax credits to be claimed by a certified investor with respect to the company.(c)  For a certified capital company that meets the requirements for continued certification under Section 228.151(a) and subsequently fails to meet the requirements for continued certification under Subsection (b) of that section:(1)  any premium tax credit that has been or will be taken by a certified investor on or before the third anniversary of the allocation date is not subject to recapture or forfeiture; and(2)  any premium tax credit that has been or will be taken by a certified investor after the third anniversary of the company's allocation date is subject to recapture or forfeiture.(d)  For a certified capital company that has met the requirements for continued certification under Section 228.151 and is subsequently decertified:(1)  any premium tax credit that has been or will be taken by a certified investor on or before the fifth anniversary of the allocation date is not subject to recapture or forfeiture; and(2)  any premium tax credit to be taken after the fifth anniversary of the allocation date is subject to forfeiture only if the company is decertified on or before the fifth anniversary of the company's allocation date.(e)  For a certified capital company that has invested an amount cumulatively equal to 100 percent of the company's certified capital in qualified investments, any premium tax credit claimed or to be claimed by a certified investor is not subject to recapture or forfeiture under this section.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.|
TX Ins Code § 228.352 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle B - Insurance Premium Taxes|Chapter 228 - Premium Tax Credit for Certain Investments|Subchapter H. Recapture and Forfeiture of Premium Tax Credits|Section 228.352. Notice of Recapture and Forfeiture of Premium Tax Credit

Sec. 228.352.  NOTICE OF RECAPTURE AND FORFEITURE OF PREMIUM TAX CREDIT.  The comptroller shall send written notice to the address of each certified investor whose premium tax credit is subject to recapture or forfeiture, using the address shown on the investor's last premium tax filing.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.|
TX Ins Code § 228.353 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle B - Insurance Premium Taxes|Chapter 228 - Premium Tax Credit for Certain Investments|Subchapter H. Recapture and Forfeiture of Premium Tax Credits|Section 228.353. Indemnity Agreements and Insurance Authorized

Sec. 228.353.  INDEMNITY AGREEMENTS AND INSURANCE AUTHORIZED.  (a)  A certified capital company may agree to indemnify, or purchase insurance for the benefit of, a certified investor for losses resulting from the recapture or forfeiture of premium tax credits under Section 228.351.(b)  Any guaranty, indemnity, bond, insurance policy, or other payment undertaking made under this section may not be provided by more than one certified investor of the certified capital company or affiliate of the certified investor.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.|
TX Ins Code § 281.001 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.001. Definitions

Sec. 281.001.  DEFINITIONS.  In this subchapter:(1)  "Domestic insurer" means an insurer organized in this state.(2)  "Foreign insurer" means an insurer organized in another state.(3)  "Tax or other charge" includes:(A)  a tax, including an income, corporate franchise, or maintenance tax;(B)  a fee, including a regulatory fee similar to a maintenance tax;(C)  a license;(D)  a fine;(E)  a penalty;(F)  a deposit requirement;  and(G)  any other obligation.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.002 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.002. Treatment of Alien Insurer as Foreign Insurer

Sec. 281.002.  TREATMENT OF ALIEN INSURER AS FOREIGN INSURER.  For purposes of this subchapter, an alien insurer is considered to be organized in the state designated by the insurer in which the insurer:(1)  has established its principal office or agency in the United States;(2)  maintains the greatest amount of its assets held in trust or on deposit for the security of its policyholders or policyholders and creditors in the United States;  or(3)  was admitted to engage in business in the United States.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.003 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.003. Exception

Sec. 281.003.  EXCEPTION.  This subchapter does not apply to a person, company, firm, association, group, corporation, or insurance organization of any kind from another state that engages in business in this state if:(1)  at least 15 percent of the voting stock of the person, company, firm, association, group, corporation, or insurance organization is owned by a corporation organized under the laws of and domiciled in this state;  and(2)  the person, company, firm, association, group, corporation, or insurance organization met the requirements of Subdivision (1) before January 30, 1957.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.004 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.004. Retaliatory Taxes or Other Charges, Prohibitions, and Restrictions

Sec. 281.004.  RETALIATORY TAXES OR OTHER CHARGES, PROHIBITIONS, AND RESTRICTIONS.  (a)  The comptroller shall impose and collect a tax or other charge or a prohibition or restriction on a foreign insurer authorized to engage in business in this state if:(1)  the foreign insurer's state of organization by law imposes a tax or other charge or a prohibition or restriction on a similar domestic insurer that is or may be authorized to engage in business in that other state;  and(2)  the sum of the taxes or other charges, prohibitions, and restrictions imposed by that other state is more than the sum of the taxes or other charges, prohibitions, and restrictions that this state directly imposes on the foreign insurer.(b)  The comptroller shall impose and collect the tax or other charge, prohibition, or restriction under Subsection (a) in the same manner and for the same purpose as the foreign insurer's state of organization.(c)  The sum of the taxes or other charges that this state imposes on a foreign insurer under this subchapter may not exceed the sum of the taxes or other charges imposed by the foreign insurer's state of organization on a similar domestic insurer that is or may be authorized to engage in business in that other state.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.005 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.005. Exclusion of Certain Taxes or Charges

Sec. 281.005.  EXCLUSION OF CERTAIN TAXES OR CHARGES.  In determining an insurer's taxes or other charges under this subchapter, the comptroller may not consider:(1)  an ad valorem tax on property;(2)  a personal income tax;(3)  a sales tax;(4)  a surcharge that an insurer may recover directly from policyholders;  or(5)  an assessment for a special purpose, such as an assessment for a guaranty association, high risk health pool, joint underwriting association, or windstorm association, under the law of this or another state.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.006 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.006. Treatment of Certain Tax Reductions and Credits

Sec. 281.006.  TREATMENT OF CERTAIN TAX REDUCTIONS AND CREDITS.  (a)  Repealed by Acts 2007, 80th Leg., R.S., Ch. 932, Sec. 22(b), eff. June 15, 2007.(b)  For purposes of this subchapter, a tax offset or credit related to an assessment described by Section 281.005 is considered a tax paid in this or another state, as appropriate.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315), Sec. 22(b), eff. June 15, 2007.|
TX Ins Code § 281.007 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.007. Tax Report; Administration and Collection of Tax

Sec. 281.007.  TAX REPORT;  ADMINISTRATION AND COLLECTION OF TAX.  The comptroller shall prescribe a due date for filing a report and paying a tax imposed under this subchapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.008 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter A. Retaliatory Taxes and Other Charges|Section 281.008. Reciprocity Agreements

Sec. 281.008.  RECIPROCITY AGREEMENTS.  The comptroller by rule may enter into a reciprocity agreement with another state under which the parties agree to mutually set aside retaliatory provisions in situations in which this state and the other state determine that retaliation is not the preferred approach to protect their domestic insurers from excessive taxation or other financial obligations.  In adopting rules under this section, the comptroller may not adopt a rule that does not specifically implement this section.|Added by Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315), Sec. 16, eff. June 15, 2007.|
TX Ins Code § 281.051 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter B. Retaliatory Penalties or Other Obligations|Section 281.051. Definitions

Sec. 281.051.  DEFINITIONS.  In this subchapter:(1)  "Domestic insurer" and "foreign insurer" have the meanings assigned by Section 281.001.(2)  "Penalty or other obligation" includes a sanction, fine, financial, deposit, or regulatory requirement, and any other obligation, prohibition, or restriction.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 281.052 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle E - Other Taxes|Chapter 281 - Retaliatory Provisions|Subchapter B. Retaliatory Penalties or Other Obligations|Section 281.052. Imposition of Penalty or Other Obligation

Sec. 281.052.  IMPOSITION OF PENALTY OR OTHER OBLIGATION.  (a)  The Texas Department of Insurance shall impose a penalty or other obligation on a foreign insurer authorized to engage in the business of insurance in this state if:(1)  the insurance department or an insurance regulatory official of the foreign insurer's state of organization imposes a penalty or other obligation on any domestic insurer authorized to engage in the business of insurance in that state;  and(2)  the penalty or other obligation is imposed because the Texas Department of Insurance did not:(A)  obtain or maintain accreditation certification or a similar form of approval, compliance, or acceptance from or as a member of the National Association of Insurance Commissioners or a committee, task force, working group, or advisory committee of the association;  or(B)  comply with a model act, regulation, report, or requirement of the National Association of Insurance Commissioners or a committee, task force, working group, or advisory committee of the association, including a market conduct, financial examination, or annual financial statement.(b)  A penalty or other obligation imposed by the Texas Department of Insurance on a foreign insurer under this section must be the same as the penalty or other obligation imposed on the domestic insurer by the insurance department or regulatory official of the foreign insurer's state of organization.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 401.001 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.001. Definitions

Sec. 401.001.  DEFINITIONS.  In this subchapter:(1)  "Accountant" means an independent certified public accountant or accounting firm that meets the requirements of Section 401.011.(2)  "Affiliate" has the meaning assigned by Section 823.003.(3)  "Health maintenance organization" means a health maintenance organization authorized to engage in business in this state.(4)  "Insurer" means an insurer authorized to engage in business in this state, including:(A)  a life, health, or accident insurance company;(B)  a fire and marine insurance company;(C)  a general casualty company;(D)  a title insurance company;(E)  a fraternal benefit society;(F)  a mutual life insurance company;(G)  a local mutual aid association;(H)  a statewide mutual assessment company;(I)  a mutual insurance company other than a mutual life insurance company;(J)  a farm mutual insurance company;(K)  a county mutual insurance company;(L)  a Lloyd's plan;(M)  a reciprocal or interinsurance exchange;(N)  a group hospital service corporation;(O)  a stipulated premium company; and(P)  a nonprofit legal services corporation.(5)  "Subsidiary" has the meaning assigned by Section 823.003.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.002 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.002. Purpose of Subchapter

Sec. 401.002.  PURPOSE OF SUBCHAPTER.  The purpose of this subchapter is to require an annual audit by an independent certified public accountant of the financial statements reporting the financial condition and the results of operations of each insurer or health maintenance organization.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.003 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.003. Effect of Subchapter on Authority to Examine

Sec. 401.003.  EFFECT OF SUBCHAPTER ON AUTHORITY TO EXAMINE.  This subchapter does not limit the commissioner's authority to order or the department's authority to conduct an examination of an insurer or health maintenance organization under this code or the commissioner's rules.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.004 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.004. Filing and Extensions for Filing of Audited Financial Report

Sec. 401.004.  FILING AND EXTENSIONS FOR FILING OF AUDITED FINANCIAL REPORT.  (a)  Unless exempt under Section 401.006, 401.007, or 401.008 and except as otherwise provided by Sections 401.005 and 401.016, an insurer or health maintenance organization shall:(1)  have an annual audit performed by an accountant; and(2)  file with the commissioner on or before June 30 an audited financial report for the preceding calendar year.(b)  The commissioner may require an insurer or health maintenance organization to file an audited financial report on a date that precedes June 30.  The commissioner must notify the insurer or health maintenance organization of the filing date not later than the 90th day before that date.(c)  An insurer or health maintenance organization may request an extension of the filing date by submitting the request in writing before the 10th day preceding the filing date.  The request must include sufficient detail for the commissioner to make an informed decision on the requested extension.  The commissioner may extend the filing date for one or more 30-day periods if the commissioner determines that there is good cause for the extension based on a showing by the insurer or health maintenance organization and the insurer's or health maintenance organization's accountant of the reasons for requesting the extension.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.005 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.005. Alternative Filing for Canadian or British Insurers or Health Maintenance Organizations

Sec. 401.005.  ALTERNATIVE FILING FOR CANADIAN OR BRITISH INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.  (a)  Instead of the audited financial report required by Section 401.004, an insurer or health maintenance organization domiciled in Canada or the United Kingdom may file the insurer's or health maintenance organization's annual statement of total business on the form filed by the insurer or health maintenance organization with the appropriate regulatory authority in the country of domicile.  The statement must be audited by an independent accountant chartered in the country of domicile.(b)  The chartered accountant must be registered with the commissioner under Section 401.014(a).  The registration must be accompanied by a statement, signed by the accountant, indicating that the accountant is aware of the requirements of this subchapter and affirming that the accountant will express the accountant's opinion in conformity with those requirements.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.006 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.006. Exemption for Certain Small Insurers and Health Maintenance Organizations

Sec. 401.006.  EXEMPTION FOR CERTAIN SMALL INSURERS AND HEALTH MAINTENANCE ORGANIZATIONS.  (a)  An insurer or health maintenance organization that has less than $1 million in direct premiums written in this state during a calendar year is exempt from the requirement to file an audited financial report if the insurer or health maintenance organization submits an affidavit, made under oath by one of the insurer's or health maintenance organization's officers, that specifies the amount of direct premiums written in this state during that period.(b)  Notwithstanding Subsection (a), the commissioner may require an insurer or health maintenance organization, other than a fraternal benefit society  that does not have any direct premiums written in this state for accident and health insurance during a calendar year, to comply with this subchapter if the commissioner finds that the insurer's or health maintenance organization's compliance is necessary for the commissioner to fulfill the commissioner's statutory responsibilities.(c)  An insurer or health maintenance organization that has assumed premiums of at least $1 million under reinsurance agreements is not exempt under Subsection (a).|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|
TX Ins Code § 401.007 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 401 - Audits and Examinations|Subchapter A. Independent Audit of Financial Statements|Section 401.007. Exemption for Certain Foreign or Alien Insurers or Health Maintenance Organizations

Sec. 401.007.  EXEMPTION FOR CERTAIN FOREIGN OR ALIEN INSURERS OR HEALTH MAINTENANCE ORGANIZATIONS.  (a)  A foreign or alien insurer or health maintenance organization that files an audited financial report in another state in accordance with that state's requirements for audited financial reports may be exempt from filing a report under this subchapter if the commissioner finds that the other state's requirements are substantially similar to the requirements prescribed by this subchapter.(b)  An insurer or health maintenance organization exempt under this section shall file with the commissioner a copy of:(1)  the audited financial report, the report on significant deficiencies in internal controls, and the accountant's letter of qualifications filed with the other state; and(2)  any notification of adverse financial conditions report filed with the other state.(c)  The reports and letter required by Subsection (b)(1) must be filed in accordance with the filing dates prescribed by Sections 401.004 and 401.019.  The report required by Subsection (b)(2) must be filed in accordance with the filing date prescribed by Section 401.017.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|