| (a) As required by any agreements between the association,
TPFA, and the trust company, if public securities payable under Insurance
Code §2210.6132 are outstanding, insurers may be required to
deposit contingent surcharges directly into the premium surcharge
trust fund or funds.
(b) If insurers are required to direct deposit under
subsection (a) of this section, then the association must provide
notice to the commissioner and insurers no later than 60 days before
the insurers must implement the contingent surcharge.
(c) The notice under subsection (b) of this section
must include all applicable deposit instructions, including any required
routing information and account numbers.
(d) Insurers must deposit the funds into the appropriate
accounts on the date the funds must otherwise be remitted to the association
under §5.4186 of this division (relating to Remittance of Contingent
Surcharges).
(e) If insurers are not required to direct deposit
under subsection (a) of this section, then the association must deposit
the collected contingent surcharges on receipt into the premium surcharge
trust fund or funds.
(f) The association may not directly or indirectly
use, borrow, or in any manner pledge or encumber contingent surcharges
collected or to be collected by the association except for the payment
of the applicable public security obligations and as otherwise authorized
in this title.
(g) The trust company must deposit any net investment
income earned on the contingent surcharges into the appropriate trust
fund accounts while these amounts are on deposit.
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