1. (a) The association shall retain any profits of the association to be used for the purposes of the association.

2. (b) The association:

   1. (1) shall use the profits to mitigate losses, including purchasing reinsurance and offsetting future assessments; and
   2. (2) may not distribute the profits to insurers.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.