On or before April 1, 2002, each insurance premium finance company holding a license issued by the department under the Insurance Code, Chapter 24, shall pay an assessment to cover the general administrative expenses attributable to the regulation of insurance premium finance companies. Payment shall be sent to the Texas Department of Insurance, Examinations Division, Mail Code #305-2E, 333 Guadalupe, P.O. Box 149104, Austin, Texas 78701-9104. The assessment to cover general administrative expenses shall be computed and paid as follows.

1. (1) The amount of the assessment shall be computed as .00135 of 1.0% of the total loan dollar volume of the company for calendar year 2001.
2. (2) If the amount of the assessment computed under paragraph (1) of this section is less than $250, the amount of the assessment shall be $250.

Source Note:The provisions of this §25.88 adopted to be effective May 17, 1995, 20 TexReg 3337; amended to be effective January 1, 1996, 20 TexReg 10786; amended to be effective January 13, 1997, 22 TexReg 115; amended to be effective February 9, 1998, 23 TexReg 1098; amended to be effective January 27, 1999, 24 TexReg 399; amended to be effective January 3, 2000, 24 TexReg 12069; amended to be effective January 10, 2001, 26 TexReg 204; amended to be effective January 7, 2002, 27 TexReg 185.