Sec. 463.162. ASSIGNMENT OR TRANSFER OF CREDIT. (a) A member insurer may assign or transfer a credit against premium tax to another member insurer if:
(1) an acquisition, merger, or total assumption of reinsurance occurs between the insurers; or
(2) the commissioner by order approves the assignment or transfer.
(b) Not later than the later of November 1 or the 60th day after the date of the assignment or transfer, each member insurer shall:
(1) report the assignment or transfer to the comptroller on a form the comptroller prescribes; and
(2) include with the report any documents from the commissioner that show approval of the assignment or transfer.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle D - Guaranty Associations
Chapter 463 - Texas Life and Health Insurance Guaranty Association
Section 463.151. Making and Payment of Assessment
Section 463.152. Classes of Assessments
Section 463.153. Amount of Assessments
Section 463.155. Deposit of Assessments
Section 463.156. Certificate of Contribution
Section 463.158. Use of Assessments
Section 463.159. Failure to Pay; Collection by Commissioner
Section 463.160. Premium Tax Credit for Class a Assessment
Section 463.161. Premium Tax Credit for Class B Assessment