Sec. 1506.254. ASSESSMENT DUE DATE; INTEREST

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(a) An assessment is due on the date specified by the board that is not earlier than the 30th day after the date written notice of the assessment is transmitted to the health benefit plan issuer.
(b) Interest accrues on the unpaid amount of an assessment at a rate equal to the prime lending rate, as published in the most recent issue of the Wall Street Journal and determined as of the first day of each month during which the assessment is delinquent, plus three percent.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 3, eff. April 1, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 808 , Sec. 10, eff. January 1, 2008. Acts 2007, 80th Leg., R.S., Ch. 881 , Sec. 14, eff. January 1, 2008.

                    
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