{"data":{"id":"us-tx/tex.-insurance-code-911.201","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 911.201","heading":"PAYMENT OF PREMIUM OR ASSESSMENT.","body":"(a) A farm mutual insurance company's bylaws must:\n(1) state the time and manner of the levy and payment of a premium or assessment for policies written by the company;\n(2) in addition to the regular premium or assessment under Subdivision (1), establish the contingent liability of a policyholder for all losses accrued while a policy is in force in the amount of at least $1 for each $100 of insurance coverage, except as provided by Subsection (b); and\n(3) state the time and manner of payment of a policyholder's contingent liability established under Subdivision (2).\n(b) A company's bylaws may provide for the issuance of policies without contingent liability as required by Subsection (a)(2) if the company has policyholder surplus in the amount of at least $1,000,000.\n(c) As required by its bylaws, a farm mutual insurance company shall establish and levy premiums and assessments, including the contingent liability of a policyholder, for all insurance written by the company.\n(d) A policyholder shall pay premiums and assessments as required by the company's bylaws.\n(e) The premium or assessment for a policy shall be secured by a lien on each item of real or personal property, other than a homestead, covered by the policy, including the land on which an insured building is located. The lien remains on the property while the insured owns the property.\n(f) A conservator, receiver, or liquidator of a farm mutual insurance company may not make an assessment against a policyholder for the contingent liability established under Subsection (a)(2).\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE F. FARM AND COUNTY MUTUAL INSURANCE COMPANIES","CHAPTER 911. FARM MUTUAL INSURANCE COMPANIES","SUBCHAPTER E. CHARGES, PREMIUMS, AND ASSESSMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.911.htm#911.201","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"611959403328695f1cbe6cfa149407d462ca0ea8f6d03d86418e9e427fe89e29","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-911.155","next":"us-tx/tex.-insurance-code-911.202"},"notice":"GroundRules: Original legal text. Not legal advice."}