Texas Insurance Code 2001.010 – Public Guide Relating to Commercial Property Rating
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(a) In this section, “rating agency” means a public or private legal entity that is authorized to conduct commercial property rating in this state.
(b) The commissioner shall make available to the public a generalized guide that:
(1) summarizes the procedures used by the department or other rating agency to rate nonresidential commercial buildings in this state; and
(2) specifies how different construction elements and techniques used in a building project affect the insurance rating of the completed building.
Terms Used In Texas Insurance Code 2001.010
- Property: means real and personal property. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The commissioner may charge a reasonable fee to cover the administrative costs of producing and distributing the guide.
(d) The commissioner shall review the information in the guide in January of each odd-numbered year and shall revise the guide as necessary to incorporate any changes that have occurred in the preceding biennium that affect the information.