Tex. Insurance Code § 254.002
This is the official text of Tex. Insurance Code § 254.002, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 254.002. MAXIMUM RATE; ANNUAL ADJUSTMENT.
Official statutory text
(a) The rate of assessment set by the commissioner may not exceed 0.2 percent of the gross premiums subject to taxation under Section 254.003.
(b) The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating motor vehicle insurance.
(b) The commissioner shall annually adjust the rate of assessment of the maintenance tax so that the tax imposed that year, together with any unexpended funds produced by the tax, produces the amount the commissioner determines is necessary to pay the expenses during the succeeding year of regulating motor vehicle insurance.
Status: in_force · Read it on the official government site
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