Texas § IN.2551.255 - RUNOFF BALANCE
Full text of Texas The Texas Constitution § IN.2551.255 — RUNOFF BALANCE, with citation guidance and answers to common questions.
§ IN.2551.255. RUNOFF BALANCE
RUNOFF BALANCE. (a) At the end of each calendar year beginning in 1997, each domestic title insurer shall compute a total statutory premium reserve balance for all policy years before January 1, 1997, combined. The balance shall be computed as of the year-end evaluation date and as if Section 2551.252 were in effect during the 20-year period ending December 31, 1996. The balance computed under this subsection is the runoff balance. (b) A domestic title insurer shall reduce its statutory premium reserve by an amount equal to the difference between: (1) the runoff balance computed under Subsection (a); and (2) the runoff balance computed for the preceding calendar year. (c) The reduction of the statutory premium reserve under Subsection (b) is in addition to any other changes to the statutory premium reserve required by this subchapter. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Frequently Asked Questions About Texas § IN.2551.255
What does The Texas Constitution § IN.2551.255 cover?
Section IN.2551.255 ("RUNOFF BALANCE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.2551.255?
A common citation format is "The Texas Constitution § IN.2551.255" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.2551.255 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.