Texas Insurance Code 228.107 – Renewal Fee; Late Fee; Exception
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(a) Not later than January 31 of each year, each certified capital company shall pay a nonrefundable renewal fee of $5,000 to the comptroller.
(b) If a certified capital company fails to pay the renewal fee on or before the date specified by Subsection (a), the company must pay, in addition to the renewal fee, a late fee of $5,000 to continue the company’s certification.
Terms Used In Texas Insurance Code 228.107
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Notwithstanding Subsection (a), a renewal fee is not required within six months of the date on which a certified capital company’s initial certification is issued under § 228.104(b).