Tex. Ins. Code § 463.159

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 463.159 - Failure to Pay; Collection By Commissioner

On failure of a member insurer to pay an assessment when due, the commissioner may either:

(1) suspend or revoke, after notice and hearing, the insurer's certificate of authority to engage in the business of insurance in this state; or

(2) levy a forfeiture in an amount not less than $100 each month or more than five percent of the unpaid assessment each month.

Tex. Ins. Code § 463.159

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.