Texas Insurance Code 501.205 – Assessment On Title Insurance Companies
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Terms Used In Texas Insurance Code 501.205
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
Each title insurance company authorized to engage in business in this state shall pay an annual assessment of 5.7 cents for each owner and mortgage policy that is written for delivery in this state during each calendar year and for which the full basic premium is charged.