Tex.
Ins. Code Section 252.002
Maximum Rate; Annual Adjustment
(a)
The rate of assessment set by the commissioner may not exceed 1.25 percent of the gross premiums subject to taxation under Section 252.003 (Premiums Subject to Taxation).(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:(1)
Chapters 1807 (Applicability to Marine Insurance), 2001-2006, 2171 (Commercial Group Property Insurance), 6001 (Fire Extinguisher Service and Installation), 6002 (Fire Detection and Alarm Device Installation), and 6003 (Fire Protection Sprinkler System Service and Installation);(2)
Subchapter C, Chapter 5;(3)
Subchapter H, Chapter 544 (Prohibited Discrimination);(4)
Subchapter D, Chapter 1806 (Prohibited Practices and Rebates Related to Policies);(5)
Section 403.002 (Dividends to Policyholders in Commercial Lines);(6)
Sections 417.007 (Investigation of Fire), 417.008 (Right of Entry; Examination and Correction of Dangerous Conditions), and 417.009 (Delegation of Authority), Government Code; and(7)
Chapter 2154 (Regulation of Fireworks and Fireworks Displays), Occupations Code.
Source:
Section 252.002 — Maximum Rate; Annual Adjustment, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.252.htm#252.002 (accessed Jun. 5, 2024).
