Sec. 463.159.  FAILURE TO PAY; COLLECTION BY COMMISSIONER.  On failure of a member insurer to pay an assessment when due, the commissioner may either:
(1)  suspend or revoke, after notice and hearing, the insurer's certificate of authority to engage in the business of insurance in this state; or
(2)  levy a forfeiture in an amount not less than $100 each month or more than five percent of the unpaid assessment each month.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.