(a) An annual assessment is imposed on each burial association that holds a certificate of authority to engage in the business of insurance in this state. The assessment is in addition to any other fee that the association is required to pay.
(b) The amount of the assessment is equal to the greater of:
(1) the amount computed by multiplying one-half cent by the number of members in the burial association on December 31 of the applicable year; or
(2) $5.