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SENATE BILL 956 |
SENATE AUTHOR: Madla |
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EFFECTIVE: Vetoed |
HOUSE SPONSOR: Eiland et al. |
Senate Bill 956 amends certain provisions of the Insurance Code to consolidate and simplify the licensing of certain types of insurance agents by establishing uniformity in the licensing, examination, continuing education, and disciplinary requirements. The act establishes the Texas Life, Accident, and Health Agents License Act and the Texas Property and Casualty Agents License Act to facilitate the consolidation and simplification process. The act prohibits the practice of the business of insurance by any person, organization, partnership, corporation, or appointed agent that does not meet the requirements of the act's provisions.
The act reformulates the requirements for the application, renewal, suspension, and revocation of certain insurance licenses by individuals, partnerships, corporations, health maintenance organizations, fraternal organizations, nonresident agents, and certain appointed agents and sub-agents. Senate Bill 956 transfers certain authority to the commissioner of insurance for the purpose of implementing licensing examinations, continuing education, disciplinary actions, bonding of agents, fee collection, and other general licensing requirements.