| account. For the purpose of Insurance
Code §2210.612, other revenue does not include investment income
on the CRTF, the class 2 trust fund, or the class 3 trust fund. For
the purpose of Insurance Code §2210.613, other revenue does not
include investment income on the CRTF, the class 1 trust fund, or
the class 3 trust fund. For the purpose of Insurance Code §2210.6131,
other revenue does not include investment income on the CRTF, the
class 1 trust fund, or the class 2 trust fund.
(40) Plan of operation--The association's plan of operation
as adopted by the Commissioner under Insurance Code §2210.151
and §2210.152.
(41) Premium--Amounts received in consideration for
the issuance of association insurance coverage. The term does not
include premium surcharges collected by the association under Insurance
Code §§2210.259, 2210.612, 2210.613, 2210.6131, or 2210.6132.
(42) Premium surcharge trust fund(s)--The dedicated
trust fund or funds established by TPFA and held by the trust company
in which the association or insurers must deposit contingent surcharges.
TPFA may establish separate trust funds or separate accounts for class
2 and class 3 contingent surcharges.
(43) Public securities--Collective reference to class
1 public securities, class 2 public securities, and class 3 public
securities.
(44) Public security administrative expenses--Expenses
incurred by the association, TPFA, or TPFA consultants to administer
public securities issued under Insurance Code Chapter 2210, including
fees for credit enhancement, paying agents, trustees, attorneys, and
other professional services.
(45) Public security obligations--The principal of
a public security and any premium and interest on a public security
issued under Insurance Code Chapter 2210, Subchapter M, together with
any amount owed under a related credit agreement.
(46) Scheduled policy claims--That portion of the association's
earned premium and other revenue expected to be paid in connection
with the disposition of losses that do not result from a catastrophic
event.
(47) Trust company--The Texas Treasury Safekeeping
Trust Company managed by the comptroller under Government Code §404.101,
et seq.
(48) Trust company representative--Any individual employed
by the trust company who is designated by the trust company as its
authorized representative for purposes of any agreement related to
the CRTF or the public securities.
(49) TPFA--The Texas Public Finance Authority.
(50) Unearned premium--That portion of gross premium
that has been collected in advance for insurance that the association
has not yet earned because of the unexpired portion of the time for
which the insurance policy has been in effect.
|
| Source Note: The provisions of this §5.4102 adopted to be effective February 3, 2011, 36 TexReg 551; amended to be effective June 12, 2014, 39 TexReg 4435; amended to be effective March 9, 2016, 41 TexReg 1697; amended to be effective January 6, 2021, 46 TexReg 162 |
