Sec. 2201.155. PAYMENT OF TAXES. (a) A risk retention group not chartered in this state is liable for the payment of premium and maintenance taxes and taxes on premiums of direct business for risks located in this state and shall report to the commissioner the net premiums written for risks located in this state. The group is subject to taxation, and any fine or penalty related to that taxation, on the same basis as a foreign admitted insurer in accordance with Chapters 4, 201, 202, 203, 221, 222, 224, 227, 228, and 251-257.
(b) A risk retention group shall provide to the comptroller all information the comptroller requests in connection with the reporting, collection, enforcement, and administration of taxes under this section.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2H.006, eff. April 1, 2009.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2201 - Risk Retention Groups and Purchasing Groups
Subchapter D. Risk Retention Groups
Section 2201.151. Compliance Required
Section 2201.152. Prerequisites to Offering Insurance
Section 2201.153. Requirements for Continuing Business
Section 2201.155. Payment of Taxes
Section 2201.156. Examination of Financial Condition; Dissolution or Delinquency Proceedings
Section 2201.157. Applicability of State Laws Prohibiting Certain Acts or Practices