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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 10. PROPERTY AND CASUALTY INSURANCE |
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Subtitle G. POOLS, GROUPS, PLANS, AND SELF-INSURANCE |
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Chapter 2204. TEXAS INSURANCE EXCHANGE |
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Subchapter C. FINANCES |
Sec. 2204.101. TAXES
Latest version.
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(a) Except as provided by this section and Chapters 251 and 261, the exchange is not subject to state or local taxes that are measured by income, premiums, or gross receipts.
(b) A direct premium written, procured, or received by a member through the exchange on a risk located in this state is:
(1) considered written, procured, or received by the exchange; and
(2) subject to the premium taxes imposed under Subtitle B, Title 3.
(c) Premium taxes shall be reported, paid, and administered as provided by Subtitle B, Title 3.
(d) The exchange and the members are considered insurers for purposes of:
(1) Sections 201.052, 201.053, and 201.054;
(2) Chapters 4, 202, 203, 221, 222, 224, 227, 228, 251, 257, and 1109; and
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 2, eff. April 1, 2007. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 , Sec. 2H.007, eff. April 1, 2009.