Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
Subtitle E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES |
Chapter 883. MUTUAL INSURANCE COMPANIES OTHER THAN MUTUAL LIFE INSURANCE COMPANIES |
Subchapter D. POWERS, DUTIES, AND OPERATION OF COMPANY |
Sec. 883.154. MAXIMUM PREMIUMS
Latest version.
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(a) The maximum premium of an insurance policy issued by a domestic mutual insurance company must be stated in the policy.
(b) A policy's maximum premium may consist only of:
(1) a cash premium; or
(2) a cash premium and a contingent premium in an amount equal to one additional cash premium.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.