Tex. Ins. Code Section 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 (Administrative and Service Fees 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 of regulating administrators.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.

Source: Section 259.003 — Maximum Rate; Annual Adjustment, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­259.­htm#259.­003 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 259.003’s source at texas​.gov