Sec. 1506.256. USE OF EXCESS FROM ASSESSMENTS

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(a) In this section, "future losses" includes reserves for claims incurred but not reported.
(b) If the total amount of the assessments exceeds the pool's actual losses and administrative expenses, the board shall deposit the excess in an interest-bearing account and shall use money in that account to offset future losses or to reduce future assessments.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 3, eff. April 1, 2005.

                    
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