Texas Insurance Code

§ 883.156 — ASSESSMENT ON POLICYHOLDERS

IN § 883.156Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 883. MUTUAL INSURANCE COMPANIES OTHER THAN MUTUAL LIFE INSURANCE COMPANIES · Art. D. POWERS, DUTIES, AND OPERATION OF COMPANY

Statute text

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(a)A policyholder is not liable for an assessment imposed on a policy issued by a mutual insurance company with approval of the commissioner under Section 883.155(a).

(b)An assessment may not be imposed on the holder of a policy described by Section 883.155(a) by:

(1)the officers or directors of a mutual insurance company;

(2)the department;

(3)a receiver; or

(4)a liquidator.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.