| Issue Date: | 1987-09-01 |
|---|---|
| Revised Date: | 2020-10-09 |
Legal Cites
- Insurance Code sec. 501.203
Object Type
Cash — Insurance
Origin Date
1987 by S.B. 2, 70th Leg., 1st C.S.
Description
Each property and casualty insurer authorized to do business in this state shall pay an annual assessment of 5.7 cents for each policy of property and casualty insurance in force at year-end.
Each insurer shall pay an annual assessment of 5.7 cents for each individual policy and for each certificate of insurance evidencing coverage under a group policy, of life, health or accident insurance written for delivery and placed in force with the initial premium paid in full in this state during each calendar year if the insurer is authorized to do business in this state under listed statutes.
Each title insurance company authorized to do business in this state shall pay an annual assessment of 5.7 cents for each owner policy and mortgage policy of title insurance written for delivery in this state during each calendar year and for which the full basic premium is charged.
Due Date
Annually
Collecting Agencies
Deposit Funds
Note
Amended by H.B. 2, 72nd Leg., R.S.
Collection changed from Office of Public Insurance Counsel (359) to the Comptroller by H.B. 1461, 73rd Leg., R.S.
Previously deposited to the Office of Public Insurance Counsel Account, abolished August 31, 1995 per § 403.094 Government Code.
Annual assessment increased from 3 cents to 5.7 cents for life, health or accident insurance by S.B. 385, 75th Leg., R.S.
Codified by H.B. 2922, 78th Leg., R.S.
USAS Values
| Appropriation Year | 24 |
|---|---|
| USAS Title | OFC PUBLIC INS COUNSEL (OPIC) ASSESSMENT |
| 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 |