Amend CSSB 14 (House Committee Printing) by inserting the
following appropriately numbered ARTICLE into the bill and
renumbering existing ARTICLES of the bill appropriately:
ARTICLE _____. MEDICAL LIABILITY INSURANCE UNDERWRITING
ASSOCIATION
SECTION _____.01. Section 4(b)(5), Article 21.49-3,
Insurance Code, is amended to read as follows:
(5) In the event that sufficient funds are not available
for the sound financial operation of the association, in addition
to assessments paid pursuant to the plan of operation in accordance
with Section 3(c)(2) of this article and contributions from the
policyholder's stabilization reserve fund, all members shall, on a
basis authorized by the commissioner [board], as long as the
commissioner [board] deems it necessary, contribute to the
financial requirements of the association in the manner provided
for in Section 5. Any assessment or contribution shall be
reimbursed to the members, or to the state to the extent that the
members have recouped their assessments using premium tax credits
as provided under Subsection (b)(3) of this section, with interest
at a rate to be approved by the commissioner, subject to the
approval of the commissioner [board]. Pending recoupment or
reimbursement of assessments or contributions paid to the
association by a member, the unrepaid balance of such assessments
and contributions may be reflected in the books and records of the
insurer as an admitted asset of the insurer for all purposes,
including exhibition in annual statements pursuant to Article 6.12
of this code.