Texas § 407.126 TRUST FUND; FEE; SCHEDULE.

Texas Statutes

§ 407.126 — TRUST FUND; FEE; SCHEDULE.

Texas § 407.126

Code LALabor Code

This text of Texas § 407.126 (TRUST FUND; FEE; SCHEDULE.) 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. Labor Code Code Ann. § 407.126 (2026).

Text

Sec. 407.126. TRUST FUND; FEE; SCHEDULE.

(a)Each member of the association shall be assessed an annual fee, based on total amount of income benefits payments made in this state for the preceding reported calendar year, to maintain a Texas certified self-insurer guaranty trust fund of at least $2 million for the emergency payment of the compensation liabilities of an impaired employer. The fund may not exceed three percent of the combined value of the security deposits of all certified self-insurers.

(b)The board of directors shall submit to the commissioner for approval a recommended balance of the trust fund. On approval by the commissioner of the recommended balance, the board of directors shall adopt a year-by-year schedule of assessments to meet the funding goal of the fund.

(c)The

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Sec. 407.126. TRUST FUND; FEE; SCHEDULE. (a) Each member of the association shall be assessed an annual fee, based on total amount of income benefits payments made in this state for the preceding reported calendar year, to maintain a Texas certified self-insurer guaranty trust fund of at least $2 million for the emergency payment of the compensation liabilities of an impaired employer. The fund may not exceed three percent of the combined value of the security deposits of all certified self-insurers.
(b) The board of directors shall submit to the commissioner for approval a recommended balance of the trust fund. On approval by the commissioner of the recommended balance, the board of directors shall adopt a year-by-year schedule of assessments to meet the funding goal of the fund.
(c) The assessment for the first year after an employer is issued a certificate of authority to self-insure shall be based on the income benefit payments paid by the employer's insurance carrier on the employer's policy in the year before the certificate was issued.
(d) The board of directors shall administer the trust fund in accordance with rules adopted by the commissioner.

Legislative History

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 980, Sec. 1.24, eff. Sept. 1, 1995. Amended by: Acts 2005, 79th Leg., Ch. 265 (H.B. 7 ), Sec. 3.066, eff. September 1, 2005. Acts 2017, 85th Leg., R.S., Ch. 1055 (H.B. 1990 ), Sec. 1, eff. September 1, 2017.