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Senate Bill 1153 |
Senate Author: Hancock |
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Effective: 9-1-19 |
House Sponsor: Smithee |
Senate Bill 1153 amends the Insurance Code to revise and update the Texas Life and Health Insurance Guaranty Association Act. Among other provisions, the bill requires a health maintenance organization to participate as a member insurer in the Texas Life and Health Insurance Guaranty Association; revises provisions relating to meetings of the association's board of directors and the appointment of board members; and provides for the association's authority to implement or file for an actuarially justified rate or premium increase, the reissuance of an impaired or insolvent insurer's policies or contracts, and the allocation of Class B assessments for long‑term care insurance written by an impaired or insolvent member insurer. The bill changes the effective date of an amendment to the association's plan of operation and revises provisions relating to exclusions from coverage under the act.