Texas § 911.201 PAYMENT OF PREMIUM OR ASSESSMENT.

Texas Statutes

§ 911.201 — PAYMENT OF PREMIUM OR ASSESSMENT.

Texas § 911.201

Code INInsurance Code

This text of Texas § 911.201 (PAYMENT OF PREMIUM OR ASSESSMENT.) 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. § 911.201 (2026).

Text

Sec. 911.201. PAYMENT OF PREMIUM OR ASSESSMENT.

(a)A farm mutual insurance company's bylaws must:

(1)state the time and manner of the levy and payment of a premium or assessment for policies written by the company;

(2)in addition to the regular premium or assessment under Subdivision (1), establish the contingent liability of a policyholder for all losses accrued while a policy is in force in the amount of at least $1 for each $100 of insurance coverage, except as provided by Subsection (b); and

(3)state the time and manner of payment of a policyholder's contingent liability established under Subdivision (2).

(b)A company's bylaws may provide for the issuance of policies without contingent liability as required by Subsection (a)(2) if the company has policyholder surplus in the amount

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Sec. 911.201. PAYMENT OF PREMIUM OR ASSESSMENT. (a) A farm mutual insurance company's bylaws must:
(1) state the time and manner of the levy and payment of a premium or assessment for policies written by the company;
(2) in addition to the regular premium or assessment under Subdivision (1), establish the contingent liability of a policyholder for all losses accrued while a policy is in force in the amount of at least $1 for each $100 of insurance coverage, except as provided by Subsection (b); and
(3) state the time and manner of payment of a policyholder's contingent liability established under Subdivision (2).
(b) A company's bylaws may provide for the issuance of policies without contingent liability as required by Subsection (a)(2) if the company has policyholder surplus in the amount of at least $1,000,000.
(c) As required by its bylaws, a farm mutual insurance company shall establish and levy premiums and assessments, including the contingent liability of a policyholder, for all insurance written by the company.
(d) A policyholder shall pay premiums and assessments as required by the company's bylaws.
(e) The premium or assessment for a policy shall be secured by a lien on each item of real or personal property, other than a homestead, covered by the policy, including the land on which an insured building is located. The lien remains on the property while the insured owns the property.
(f) A conservator, receiver, or liquidator of a farm mutual insurance company may not make an assessment against a policyholder for the contingent liability established under Subsection (a)(2).