By Driver                                             H.B. No. 1670
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the assignment of certain insurance agents'
    1-3  commissions.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 18, Article 21.07, Insurance Code, is
    1-6  amended to read as follows:
    1-7        Sec. 18.  Assignment of Agent's Commissions.  (a)
    1-8  Notwithstanding any provisions of either this Article or of the
    1-9  Insurance Code to the contrary, an employee, officer, director, or
   1-10  shareholder of a state or national bank, a state or federal savings
   1-11  and loan association or corporation, or a state or federal credit
   1-12  union, who is licensed as an agent under this Article and who
   1-13  enters into a contract with an insurer to act as the insurer's
   1-14  agent in soliciting or writing policies or certificates of credit
   1-15  life insurance, credit accident and health insurance, or both,
   1-16  covering debtors of the bank, savings and loan, or credit union in
   1-17  which such agent is an employee, officer, director, or shareholder,
   1-18  may assign and transfer to such bank, savings and loan, or credit
   1-19  union any commissions, fees, or other compensation to be paid to
   1-20  such agent under the agent's contract with the insurer.
   1-21        (b)  Notwithstanding any provisions of either this Article or
   1-22  of the Insurance Code to the contrary, an employee, officer,
   1-23  director, or shareholder of a person who holds a valid dealer's
    2-1  general distinguishing number issued by the Texas Department of
    2-2  Transportation pursuant to the authority of Article 6686, Revised
    2-3  Statutes, who is licensed as an agent under this Article and who
    2-4  enters into a contract with an insurer to act as the insurer's
    2-5  agent in soliciting or writing policies or certificates of credit
    2-6  life insurance, credit accident and health insurance, or both, may
    2-7  assign and transfer to the dealer or any affiliate of the dealer,
    2-8  any commissions, fees, or other compensation to be paid to the
    2-9  agent under the agent's contract with the insurer.
   2-10        SECTION 2.  The importance of this legislation and the
   2-11  crowded condition of the calendars in both houses create an
   2-12  emergency and an imperative public necessity that the
   2-13  constitutional rule requiring bills to be read on three several
   2-14  days in each house be suspended, and this rule is hereby suspended,
   2-15  and that this Act take effect and be in force from and after its
   2-16  passage, and it is so enacted.
   2-17                       COMMITTEE AMENDMENT NO. 1
   2-18        Amend H.B. 1670 as follows:
   2-19        On page 1, Line 23, strike "person" and substitute "dealer".
   2-20                                                               Driver