Texas § 463.159 FAILURE TO PAY; COLLECTION BY COMMISSIONER.

Texas Statutes

§ 463.159 — FAILURE TO PAY; COLLECTION BY COMMISSIONER.

Texas § 463.159

Code INInsurance Code

This text of Texas § 463.159 (FAILURE TO PAY; COLLECTION BY COMMISSIONER.) 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. § 463.159 (2026).

Text

Sec. 463.159. FAILURE TO PAY; COLLECTION BY COMMISSIONER. On failure of a member insurer to pay an assessment when due, the commissioner may either:

(1)suspend or revoke, after notice and hearing, the insurer's certificate of authority to engage in the business of insurance in this state; or

(2)levy a forfeiture in an amount not less than $100 each month or more than five percent of the unpaid assessment each month.

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Sec. 463.159. FAILURE TO PAY; COLLECTION BY COMMISSIONER. On failure of a member insurer to pay an assessment when due, the commissioner may either:
(1) suspend or revoke, after notice and hearing, the insurer's certificate of authority to engage in the business of insurance in this state; or
(2) levy a forfeiture in an amount not less than $100 each month or more than five percent of the unpaid assessment each month.