Texas Insurance Code

§ 441.203 — COLLECTION OF FEES FROM REHABILITATED INSURER

IN § 441.203Title 4. REGULATION OF SOLVENCY · Part C. DELINQUENT INSURERS · Ch. 441. SUPERVISION AND CONSERVATORSHIP · Art. E. PROVISIONS APPLYING TO SUPERVISION AND CONSERVATORSHIP

Statute text

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(a)The commissioner may collect fees from an insurer described by Section 82.002 that is successfully rehabilitated by the commissioner. The fees must be in amounts sufficient to cover the cost of rehabilitating the insurer, but may not exceed that cost.

(b)The department may use fees collected under this section only for the rehabilitation of the insurer from which the fees are collected.

(c)Fees collected under this section shall be deposited in and expended through the Texas Department of Insurance operating account.

(d)The commissioner may determine the terms of the collection or repayment of the fees.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.