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Texas Insurance Code - INS § 2210.611. Excess Revenue Collections and Investment Earnings

Current as of January 01, 2024 | Updated by Findlaw Staff

Revenue collected in any calendar year from a premium surcharge under Sections 2210.612, 2210.613, and 2210.6131 that exceeds the amount of the public security obligations and public security administrative expenses payable in that calendar year and interest earned on the funds may, in the discretion of the association, be:

(1) used to pay public security obligations payable in the subsequent calendar year, offsetting the amount of the premium surcharge that would otherwise be required to be levied for the year under this subchapter;

(2) used to redeem or purchase outstanding public securities; or

(3) deposited in the catastrophe reserve trust fund.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.611. Excess Revenue Collections and Investment Earnings - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-611/

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