FindLaw : FindLaw Texas : Codes and Statutes : Texas Code : Insurance Code
  • Texas Code
    • Texas Insurance Code
        INSURANCE CODE CHAPTER 253. CASUALTY INSURANCE AND FIDELITY, GUARANTY, AND SURETY BOND INSURANCE 
        

        
INSURANCE CODE
        

        
CHAPTER 253. CASUALTY INSURANCE AND FIDELITY, GUARANTY, AND SURETY 
BOND INSURANCE
        


	§ 253.001.  MAINTENANCE TAX IMPOSED.  A maintenance tax 
is imposed on each authorized insurer with gross premiums subject 
to taxation under Section 253.003.  The tax required by this chapter 
is in addition to other taxes imposed that are not in conflict with 
this chapter.

Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.          


	§ 253.002.  MAXIMUM RATE;  ANNUAL ADJUSTMENT.  (a)  The 
rate of assessment set by the commissioner may not exceed 0.4 
percent of the gross premiums subject to taxation under Section 
253.003.

        
Text of subsection effective until April 1, 2009
        
	(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 all classes of 
insurance specified under Subchapter B, Chapter 5.

        
Text of subsection effective on April 1, 2009
        
	(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 all classes of 
insurance specified under Section 253.003.

Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.          

Amended by:                                                                   
	Acts 2007, 80th Leg., R.S., Ch. 730, § 2C.003, eff. April 
1, 2009.

        
Text of section effective until April 1, 2009
        




	§ 253.003.  PREMIUMS SUBJECT TO TAXATION.  An insurer 
shall pay maintenance taxes under this chapter on the correctly 
reported gross premiums from writing a class of insurance specified 
under Subchapter B, Chapter 5.

Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.          

Amended by:                                                                   
	Acts 2007, 80th Leg., R.S., Ch. 730, § 2C.004, eff. April 
1, 2009.

        
Text of section effective on April 1, 2009
        




	§ 253.003.  PREMIUMS SUBJECT TO TAXATION.  An insurer 
shall pay maintenance taxes under this chapter on the correctly 
reported gross premiums from writing a class of insurance specified 
under:
		(1)  Chapters 2008, 2251, and 2252;                                           
		(2)  Subchapter B, Chapter 5;                                                 
		(3)  Subchapter C, Chapter 1806;                                              
		(4)  Subchapter A, Chapter 2301; and                                          
		(5)  Subtitle B, Title 10.                                                    

Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.          

Amended by:                                                                   
	Acts 2007, 80th Leg., R.S., Ch. 730, § 2C.004, eff. April 
1, 2009.


	§ 253.004.  MAINTENANCE TAX DUE DATES.  (a)  The insurer 
shall pay the maintenance tax annually or semiannually, as 
determined by the comptroller.
	(b)  The comptroller may require semiannual payment only 
from an insurer whose maintenance tax liability under this chapter 
for the previous tax year was at least $2,000.

Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Ads by FindLaw

Welcome Legal Professionals

FindLaw provides the resources to help you practice law. Access free cases & codes, connect with your peers, and leverage FindLaw's lawyer marketing solutions.