(a) Administrative expenses of the pool may be paid from the fund. Payments for administrative expenses during a fiscal year of the pool may not exceed the amount established by the board.
(b) The pool may pay commissions from the fund on approval of the board.

Terms Used In Texas Insurance Code 2207.353

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Rule: includes regulation. See Texas Government Code 311.005
  • Statute: A law passed by a legislature.

(c) Money in the fund may not be used to pay:
(1) punitive damages; or
(2) a fine or penalty imposed for a violation of:
(A) a statute;
(B) an administrative rule or regulation; or
(C) an order, rule, or ordinance.
(d) Money for a claim may not be paid from the fund under excess liability insurance coverage until all benefits payable under any other underlying liability insurance policy covering the claim or judgment are exhausted.

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