Friday, March 30, 2007

Texas considers reducing stamping fee

The Texas Commissioner of Insurance is considering a recommendation to reduce the stamping fee to 0.06%.

The Texas Department of Insurance staff had recommended the decrease in the stamping fee rate to 0.06% from its current rate of 0.10%.

The staff’s recommendation follows a similar recommendation by the Board of Directors of the Surplus Lines Stamping Office of Texas (Stamping Office) to decrease the fee.

The proposed effective date for the decrease is July 1, 2007.

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