Texas Insurance Code

§ 228.107 — RENEWAL FEE; LATE FEE; EXCEPTION

IN § 228.107Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part B. INSURANCE PREMIUM TAXES · Ch. 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS · Art. C. APPLICATION FOR AND GENERAL OPERATION OF CERTIFIED CAPITAL COMPANIES

Statute text

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(a)Not later than January 31 of each year, each certified capital company shall pay a nonrefundable renewal fee of $5,000 to the comptroller.

(b)If a certified capital company fails to pay the renewal fee on or before the date specified by Subsection (a), the company must pay, in addition to the renewal fee, a late fee of $5,000 to continue the company's certification.

(c)Notwithstanding Subsection (a), a renewal fee is not required within six months of the date on which a certified capital company's initial certification is issued under Section 228.104(b).

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.