SUBCHAPTER F. RESERVES

Sec. 2551.251.  STATUTORY PREMIUM RESERVE REQUIRED.  (a)  Each domestic title insurer shall establish and maintain a statutory premium reserve.  The reserve is cumulative.  The reserve must consist of the amounts required under Sections 2551.252-2551.260 and must be established and maintained during the period and for the uses and purposes provided by those sections.
(b)  The reserve required under this section:
(1)  is considered to be unearned portions of the original premium;  and
(2)  must be charged as a reserve liability of the title insurer in determining the insurer's financial condition.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.