Texas § 463.157 REFUNDS.

Texas Statutes

§ 463.157 — REFUNDS.

Texas § 463.157

Code INInsurance Code

This text of Texas § 463.157 (REFUNDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 463.157 (2026).

Text

Sec. 463.157. REFUNDS.

(a)The board may refund to member insurers the amount by which the association's assets, including any net realized gains and income from investments, exceed the amount the board determines is necessary to carry out the association's obligations regarding that amount during the next year.

(b)A refund must be made:

(1)by an equitable method established in the plan of operation; and

(2)in proportion to the contribution of each member insurer.

(c)The board may retain a reasonable amount to provide for the association's continuing expenses and for future losses if refunds are impractical.

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Sec. 463.157. REFUNDS. (a) The board may refund to member insurers the amount by which the association's assets, including any net realized gains and income from investments, exceed the amount the board determines is necessary to carry out the association's obligations regarding that amount during the next year.
(b) A refund must be made:
(1) by an equitable method established in the plan of operation; and
(2) in proportion to the contribution of each member insurer.
(c) The board may retain a reasonable amount to provide for the association's continuing expenses and for future losses if refunds are impractical.