Section 2210.611 - Excess Revenue Collections and Investment Earnings Revenue collected in any calendar year from a premium surcharge under Sections 2210.612, 2210.613, and 2210.6131 that exceeds the amount of the public security obligations and public security administrative expenses payable in that calendar year and interest earned on the funds may, in the discretion of the association, be:
(1) used to pay public security obligations payable in the subsequent calendar year, offsetting the amount of the premium surcharge that would otherwise be required to be levied for the year under this subchapter;(2) used to redeem or purchase outstanding public securities; or(3) deposited in the catastrophe reserve trust fund.Tex. Ins. Code § 2210.611
Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 615,Sec. 24, eff. 9/1/2015.Amended By Acts 2011, 82nd Leg., 1st C.S., Ch. 2, Sec. 48, eff. 9/28/2011.Added by Acts 2009, 81st Leg., R.S., Ch. 1408, Sec. 41, eff. 6/19/2009.