reglab/housing_qa huggingface dataset:
TX Ins Code § 258.004 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 258 - Health Maintenance Organizations|Section 258.004. Revenues Subject to Taxation; Limit

Sec. 258.004.  REVENUES SUBJECT TO TAXATION;  LIMIT.  (a)  A health maintenance organization shall pay per capita maintenance taxes under this chapter on the correctly reported gross revenues collected from issuing health maintenance certificates or contracts in this state.(b)  The amount of maintenance tax assessed may not be computed based on:(1)  enrollees who as individual certificate holders or their dependents are covered by a master group policy paid for by revenues received from the United States for insurance contracted for by the United States  in accordance with or in furtherance of Title XVIII of the Social Security Act (42 U.S.C. Section 1395c et seq.) and its subsequent amendments; or(2)  revenues paid on group health, accident, and life certificates or contracts in which the group covered by the certificate or contract consists of a single nonprofit trust established to provide coverage primarily for employees of:(A)  a municipality, county, or hospital district in this state; or(B)  a county or municipal hospital, without regard to whether the employees are employees of the county or municipality or of an entity operating the hospital on behalf of the county or municipality.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.007(a), eff. September 1, 2005.|
TX Ins Code § 258.005 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 258 - Health Maintenance Organizations|Section 258.005. Maintenance Tax Due Dates

Sec. 258.005.  MAINTENANCE TAX DUE DATES.  (a)  The health maintenance organization shall pay the maintenance tax annually or semiannually.(b)  The comptroller may require semiannual or other periodic payment only from a health maintenance organization whose maintenance tax liability under this chapter for the previous year was at least $2,000.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 259.001 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 259 - Third-Party Administrators|Section 259.001. Definitions

Sec. 259.001.  DEFINITIONS.  In this chapter:(1)  "Administrative or service fees" means all consideration, fees, assessments, payments, reimbursements, dues, and other compensation received for services as an administrator during a calendar year.  The term does not include sales commissions.(2)  "Administrator" has the meaning assigned by Section 4151.001.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 259.002 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 259 - Third-Party Administrators|Section 259.002. Maintenance Tax Imposed

Sec. 259.002.  MAINTENANCE TAX IMPOSED.  A maintenance tax is imposed on each authorized administrator with administrative or service fees subject to taxation under Section 259.004.  The tax required by this chapter is in addition to other taxes imposed that are not in conflict with this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 259.003 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 259 - Third-Party Administrators|Section 259.003. Maximum Rate; Annual Adjustment

Sec. 259.003.  MAXIMUM RATE;  ANNUAL ADJUSTMENT.  (a)  The rate of assessment set by the commissioner may not exceed one percent of the administrative or service fees subject to taxation under Section 259.004.(b)  The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses of regulating administrators.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 259.004 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 259 - Third-Party Administrators|Section 259.004. Administrative and Service Fees Subject to Taxation

Sec. 259.004.  ADMINISTRATIVE AND SERVICE FEES SUBJECT TO TAXATION.  An administrator shall pay maintenance taxes under this chapter on the administrator's correctly reported administrative or service fees.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 259.005 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 259 - Third-Party Administrators|Section 259.005. Maintenance Tax Due Dates

Sec. 259.005.  MAINTENANCE TAX DUE DATES.  The administrator shall pay the maintenance tax annually, semiannually, or on another periodic basis, as determined by the comptroller.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 261.001 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 261 - Texas Insurance Exchange|Section 261.001. Definition

Sec. 261.001.  DEFINITION.  In this chapter, "exchange" means the Texas Insurance Exchange.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 261.002 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 261 - Texas Insurance Exchange|Section 261.002. Maintenance Tax Imposed

Sec. 261.002.  MAINTENANCE TAX IMPOSED.  A maintenance tax is imposed on the gross premiums paid through the exchange and subject to taxation under Section 261.004.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 261.003 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 261 - Texas Insurance Exchange|Section 261.003. Maximum Rate; Annual Adjustment

Sec. 261.003.  MAXIMUM RATE;  ANNUAL ADJUSTMENT.  (a)  The rate of assessment set by the commissioner may not exceed one percent of the gross premiums subject to taxation under Section 261.004.(b)  The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating all classes of insurance specified under Chapter 2204.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2C.008, eff. April 1, 2009.|
TX Ins Code § 261.004 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 261 - Texas Insurance Exchange|Section 261.004. Premiums Subject to Taxation

Sec. 261.004.  PREMIUMS SUBJECT TO TAXATION.  The exchange shall pay maintenance taxes under this chapter on the correctly reported gross premiums paid through the exchange on all classes of insurance specified under Chapter 2204.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2C.009, eff. April 1, 2009.|
TX Ins Code § 261.005 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle C - Insurance Maintenance Taxes|Chapter 261 - Texas Insurance Exchange|Section 261.005. Maintenance Tax Due Dates

Sec. 261.005.  MAINTENANCE TAX DUE DATES.  The exchange shall pay the maintenance tax annually, semiannually, or on another periodic basis, as determined by the comptroller.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.001 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.001. Applicability of Certain Definitions

Sec. 271.001.  APPLICABILITY OF CERTAIN DEFINITIONS.  In this chapter, a term defined by Chapter 2501 has the meaning assigned by that chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.002 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.002. Maintenance Fee Imposed

Sec. 271.002.  MAINTENANCE FEE IMPOSED.  (a)  A maintenance fee is imposed on all premiums subject to assessment under Section 271.006.(b)  The maintenance fee is not a tax and shall be reported and paid separately from premium and retaliatory taxes.|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. 15, eff. June 15, 2007.|
TX Ins Code § 271.003 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.003. Duplication of Assessment Prohibited With Respect to Title Insurance Agents

Sec. 271.003.  DUPLICATION OF ASSESSMENT PROHIBITED WITH RESPECT TO TITLE INSURANCE AGENTS.  The maintenance fee is included in the division of premiums and may not be separately charged to a title insurance agent.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.004 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.004. Determining Rate of Assessment

Sec. 271.004.  DETERMINING RATE OF ASSESSMENT.  (a)  The commissioner shall annually determine the rate of assessment of the maintenance fee.(b)  In determining the rate of assessment, the commissioner shall consider the requirement to reimburse the appropriate portion of the general revenue fund under Section 201.052.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.005 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.005. Maximum Rate; Annual Adjustment

Sec. 271.005.  MAXIMUM RATE;  ANNUAL ADJUSTMENT.  (a)  The rate of assessment set by the commissioner may not exceed one percent of the gross premiums subject to assessment under Section 271.006.(b)  The commissioner shall annually adjust the rate of assessment of the maintenance fee so that the fee imposed that year, together with any unexpended funds produced by the fee, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating title insurance.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.006 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.006. Premiums Subject to Assessment

Sec. 271.006.  PREMIUMS SUBJECT TO ASSESSMENT.  An insurer shall pay maintenance fees under this chapter on the correctly reported gross premiums from writing title insurance in this state.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.007 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.007. Collection of Maintenance Fee

Sec. 271.007.  COLLECTION OF MAINTENANCE FEE.  The comptroller shall collect the maintenance fee.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.008 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.008. Duty to Advise Comptroller of Rate

Sec. 271.008.  DUTY TO ADVISE COMPTROLLER OF RATE.  The commissioner shall advise the comptroller of the applicable rate of assessment of the maintenance fee not later than the 45th day before the due date of the maintenance fee return for the period for which that fee is due.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.009 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.009. Effect of Late Advisement of Rate

Sec. 271.009.  EFFECT OF LATE ADVISEMENT OF RATE.  (a)  Except as provided by Subsection (b), if the commissioner does not advise the comptroller of the applicable rate of assessment of the maintenance fee by the date required by Section 271.008, the rate of assessment is the rate imposed in the preceding period.(b)  If the commissioner advises the comptroller of the applicable rate of assessment after the fee has been assessed, the comptroller shall:(1)  advise each insurer in writing of the amount of any additional fees due;  or(2)  refund any excess fees paid.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.010 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.010. Deposit of Maintenance Fees

Sec. 271.010.  DEPOSIT OF MAINTENANCE FEES.  (a)  The comptroller shall deposit maintenance fees collected under this chapter in the general revenue fund to be reallocated to the Texas Department of Insurance operating account.(b)  Amounts in the Texas Department of Insurance operating account may be transferred to the appropriate portion of the general revenue fund in accordance with Section 201.052.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.011 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.011. Maintenance Fee Due Dates

Sec. 271.011.  MAINTENANCE FEE DUE DATES.  (a)  The insurer shall pay the maintenance fee on an annual, semiannual, or other periodic basis, as determined by the comptroller.(b)  The comptroller may require semiannual or other periodic payment only from an insurer whose maintenance fee liability under this chapter for the preceding year was at least $2,000.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 271.012 (2021)
2021 Texas Statutes|Insurance Code|Title 3 - Department Funds, Fees, and Taxes|Subtitle D - Title Insurance Maintenance Fees|Chapter 271 - Title Insurance Maintenance Fees|Section 271.012. Rules

Sec. 271.012.  RULES.  The commissioner may adopt reasonable rules to implement payments under this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.|
TX Ins Code § 406.001 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.001. Definition

Sec. 406.001.  DEFINITION.  In this chapter, "insurer" includes:(1)  a capital stock insurance company;(2)  a reciprocal or interinsurance exchange;(3)  a Lloyd's plan;(4)  a fraternal benefit society;(5)  a mutual company, including a mutual assessment company;(6)  a statewide mutual assessment company;(7)  a local mutual aid association;(8)  a burial association;(9)  a county mutual insurance company;(10)  a farm mutual insurance company;(11)  a fidelity, guaranty, or surety company;(12)  a title insurance company;(13)  a stipulated premium company;(14)  a group hospital service corporation;(15)  a health maintenance organization;(16)  a risk retention group; and(17)  any other organization or person engaged in the business of insurance.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.002 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.002. Applicability of Chapter

Sec. 406.002.  APPLICABILITY OF CHAPTER.  This chapter  applies to a person or organization engaged in the business of insurance without regard to whether the person or organization is listed in Section 406.001, unless another statute specifically cites this chapter and exempts the person or organization from this chapter.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.003 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.003. Required Deposit: Standards and Criteria

Sec. 406.003.  REQUIRED DEPOSIT: STANDARDS AND CRITERIA.  The commissioner, in the commissioner's sole discretion, may require an insurer to make a deposit under this chapter if the commissioner determines that one of the following conditions, if not rectified, may potentially be hazardous to the insurer's policyholders, enrollees, or creditors, or to the public:(1)  the insurer's financial or operating condition, reviewed in conjunction with the kinds and nature of risks insured;(2)  the insurer's method of operation;(3)  the insurer's relationship with affiliates;(4)  the nature and amount of the insurer's investments;(5)  the insurer's contracts that may lead to a contingent liability; or(6)  the insurer's agreements with respect to guaranty and surety.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.004 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.004. Required Deposit: Form of Security

Sec. 406.004.  REQUIRED DEPOSIT: FORM OF SECURITY.  A deposit required under Section 406.003 must be made with the comptroller and approved by the commissioner.  The deposit must be made in:(1)  cash;(2)  securities authorized under this code to be a legal investment for the insurer that:(A)  are readily marketable over a national exchange with a maturity date of not more than one year, are listed by the Securities Valuation Office of the National Association of Insurance Commissioners, and qualify as admitted assets; or(B)  are clean, irrevocable, and unconditional letters of credit issued or confirmed by a financial institution organized and licensed under the laws of the United States or a state of the United States; or(3)  another form of security acceptable to the commissioner.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.005 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.005. Duration of Deposit

Sec. 406.005.  DURATION OF DEPOSIT.  Subject to Section 406.006, the comptroller shall hold a deposit required under this chapter until the commissioner issues a written order finding that the condition for which the deposit was required no longer exists.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.006 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.006. Substitution or Withdrawal of Deposit

Sec. 406.006.  SUBSTITUTION OR WITHDRAWAL OF DEPOSIT.  (a)  An insurer may file a written application with the commissioner requesting:(1)  withdrawal of all or part of the deposit held by the comptroller under this chapter; or(2)  substitution of all or part of the deposited securities held by the comptroller under this chapter.(b)  The application must state the basis for the request to withdraw the deposit or to substitute the deposited security.(c)  An insurer's application for the substitution of a deposited security must provide specific information regarding the security to be deposited as a substitute for the security held by the comptroller.(d)  The commissioner shall issue a letter approving or an order denying an application under this section not later than the 30th day after the date the department receives the application.  If the commissioner does not approve or deny the application within that period, the application is denied.(e)  The commissioner may, in the commissioner's sole discretion, approve an application to withdraw a deposit or substitute a deposited security if the commissioner determines that the withdrawal or substitution will not be hazardous to the insurer's policyholders, enrollees, or creditors, or to the public.(f)  The comptroller may not release a deposit made under this chapter, or any part of the deposit, and may not accept a substitute for a deposited security unless the commissioner issues a letter approving the withdrawal or substitution.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 553 (S.B. 631), Sec. 1, eff. June 14, 2013.|
TX Ins Code § 406.007 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.007. Appeal

Sec. 406.007.  APPEAL.  An insurer may appeal an action of the commissioner under this chapter in accordance with Subchapter D, Chapter 36.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 406.008 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle A - General Provisions|Chapter 406 - Special Deposits Required Under Potentially Hazardous Conditions|Section 406.008. Cumulative of Other Deposits

Sec. 406.008.  CUMULATIVE OF OTHER DEPOSITS.  A deposit required to be made under this chapter is in addition to any other deposit that the insurer is required or authorized to make under this code.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1C.001, eff. April 1, 2009.|
TX Ins Code § 421.001 (2021)
2021 Texas Statutes|Insurance Code|Title 4 - Regulation of Solvency|Subtitle B - Reserves and Investments|Chapter 421 - Reserves in General|Section 421.001. Reserves Required

Sec. 421.001.  RESERVES REQUIRED.  (a)  An insurer shall maintain reserves in an amount estimated in the aggregate to provide for the payment of all losses or claims for which the insurer may be liable and that are:(1)  incurred on or before the date of statement, whether reported or unreported; and(2)  unpaid as of the date of statement.(b)  In addition to the reserves required by Subsection (a), an insurer shall maintain reserves in an amount estimated to provide for the expenses of adjustment or settlement of the losses or claims described by that subsection.(c)  The commissioner shall adopt each current formula recommended by the National Association of Insurance Commissioners for establishing reserves for each line of insurance.  Each insurer writing a line of insurance to which a formula adopted under this subsection applies shall establish reserves in compliance with that formula.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.|