| Issue Date: | |
|---|---|
| Revised Date: | 2018-09-14 |
Legal Citations
- Insurance Code sec. 981.105, sec. 981.203
Object Type
Cash — Insurance
Origin Date
1949 by the 51st Leg.
Description
A surplus lines license grants an authorized agent the authority to procure certain kinds of insurance from companies not licensed in Texas. Fees are set by the department.
Commissioner may assess the following fees after the filing deadline:
- $50 each late-filed policy if no more than 5% filed in preceding year.
- $100 each late-filed policy if more than 5% filed in preceding year.
- $200 if issued after 180th day but before 365th day who filed no more than 2% in preceding year.
Due Date
Surplus lines agent license expires 2 years from date of issue. Department may adopt staggered renewal system.
Collecting Agencies
Deposit Funds
Note
Deposit changed from the Local Recording Agents & Solicitors License Fund (No. 0124) by S.B. 928, 68th Leg., R.S.
Amended by S.B. 1063, 69th Leg., R.S.
Amended by S.B. 526, 70th Leg., R.S.
Amended by H.B. 2, 72nd Leg., R.S.
Amended by S.B. 414, 77th Leg., R.S.
Late fees added by S.B. 1806, 82nd Leg., R.S.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | INSURANCE AGENTS LICENSES |
| Receipt Category | 04 – Insurance |
| Receipt Type | 10 – Business/Professional Fees |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 01 – LICENSES, FEES, FINES, AND PENALTIES |