Sec. 2602.107. ADMINISTRATIVE EXPENSES. (a) The association may use money in the administrative account to pay administrative costs and other general expenses of the association.
(b) The association may transfer income from investment of the association's money in any account to the administrative account.
(c) The association shall assess title insurance companies as provided by Subchapter E for any additional money needed for the administrative account.
(d) The association shall pay from the guaranty fee account fees and reasonable and necessary expenses that the department incurs in an examination or audit of a title agent or direct operation under this chapter and Chapter 2651.
(e) The association may advance money from any account to the administrative account to pay the administrative expenses of the association.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1025 (H.B. 4338), Sec. 5, eff. September 1, 2009.
Acts 2019, 86th Leg., R.S., Ch. 775 (H.B. 1614), Sec. 9, eff. September 1, 2019.
Structure Texas Statutes
Subtitle C - Financial Solvency
Chapter 2602 - Texas Title Insurance Guaranty Association
Subchapter C. General Powers and Duties of Association
Section 2602.101. General Powers and Duties
Section 2602.102. Plan of Operation
Section 2602.103. Employees and Experts
Section 2602.104. Association Records
Section 2602.105. Meeting by Conference Call
Section 2602.107. Administrative Expenses
Section 2602.108. Deposit of Fees and Assessments
Section 2602.109. Use of Excess Money in Accounts
Section 2602.110. Expenses of Administering Impaired Insurer or Impaired Agent
Section 2602.111. Delegation of Powers and Duties
Section 2602.112. Exemption From Taxation
Section 2602.113. Detection and Prevention of Impairment
Section 2602.114. Meeting of Board on Impaired Title Insurance Company or Agent
Section 2602.115. Association and Board Advice and Assistance