Texas Insurance Code
§ 912.202 — PAYMENT OF PREMIUM OR ASSESSMENT
IN § 912.202Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES · Ch. 912. COUNTY MUTUAL INSURANCE COMPANIES · Art. E. CHARGES, PREMIUMS, AND ASSESSMENTS
Statute text
View on source(a)A county mutual insurance company's bylaws must:
(1)state the time and manner of the levy and payment of a premium or assessment for policies written by the company;
(2)in addition to the regular premium or assessment under Subdivision (1), establish the contingent liability of a policyholder for all losses accrued while a policy is in force in the amount of $2 for each $100 of insurance coverage; and
(3)state the time and manner of payment of a policyholder's contingent liability established under Subdivision (2).
(b)As required by its bylaws, a county mutual insurance company shall establish and levy premiums and assessments, including the contingent liability of a policyholder, for all insurance written by the company.
(c)A policyholder shall pay premiums and assessments as required by the company's bylaws.
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.