Texas Insurance Code

§ 651.054 — APPLICATION FOR LICENSE; INVESTIGATION FEE; EXEMPTION

IN § 651.054Title 5. PROTECTION OF CONSUMER INTERESTS · Part E. PREMIUM FINANCING · Ch. 651. FINANCING OF INSURANCE PREMIUMS · Art. B. AUTHORITY TO ENGAGE IN BUSINESS

Statute text

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(a)An application for a license to engage in the business of insurance premium financing must:

(1)be in writing on a form prescribed by the commissioner; and

(2)be accompanied by a nonrefundable investigation fee in an amount not to exceed $400 as established by the department.

(b)A person who on January 1, 1980, held a license under Chapter 3, Title 79, Revised Statutes (Article 5069-3.01 et seq., Vernon's Texas Civil Statutes), is not required to pay an investigation fee.

(c)Section 201.001 applies to fees collected under this section.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.