Texas Insurance Code 1501.323 – Advance Interim Assessments
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(a) The system may make advance interim assessments as reasonable and necessary for organizational and interim operating expenses.
(b) After the end of the fiscal year, the system shall credit an interim assessment made under this section as an offset against regular assessments due.
Terms Used In Texas Insurance Code 1501.323
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.