Texas Insurance Code 271.005 – Maximum Rate; Annual Adjustment
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(a) The rate of assessment set by the commissioner may not exceed one percent of the gross premiums subject to assessment under Section 271.006.
(b) The commissioner shall annually adjust the rate of assessment of the maintenance fee so that the fee imposed that year, together with any unexpended funds produced by the fee, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating title insurance.
Terms Used In Texas Insurance Code 271.005
- Succeeding: means immediately following. See Texas Government Code 312.011
- Year: means 12 consecutive months. See Texas Government Code 311.005