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Texas Insurance Code - INS § 2210.635. Excess Revenue Collections and Investment Earnings

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

With respect to a financing arrangement entered into under Section 2210.632, the association may use revenue collected in a calendar year from a premium surcharge, including earned interest, that exceeds the amount of the financing arrangement obligations and financing arrangement administrative expenses payable during that calendar year to:

(1) pay financing arrangement obligations payable in the subsequent calendar year, offsetting the amount of a premium surcharge that would otherwise be required to be levied for the year under this chapter;

(2) pay outstanding financing arrangement obligations;  or

(3) deposit additional money into the catastrophe reserve trust fund.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2210.635. Excess Revenue Collections and Investment Earnings - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2210-635/

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