Section 2551.251 - Statutory Premium Reserve Required(a) Each domestic title insurer shall establish and maintain a statutory premium reserve. The reserve is cumulative. The reserve must consist of the amounts required under Sections 2551.252-2551.260 and must be established and maintained during the period and for the uses and purposes provided by those sections.(b) The reserve required under this section: (1) is considered to be unearned portions of the original premium; and(2) must be charged as a reserve liability of the title insurer in determining the insurer's financial condition.Tex. Ins. Code § 2551.251
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. 4/1/2005.