S.B. No. 391
                                        AN ACT
    1-1  relating to recovery from certain insureds of payments made by the
    1-2  Texas Property and Casualty Insurance Guaranty Association.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Subsection (b), Section 11, Article 21.28-C,
    1-5  Insurance Code, is amended to read as follows:
    1-6        (b)  The association is entitled to recover from the
    1-7  following persons the amount of any covered claim paid on behalf of
    1-8  that person under this Act:
    1-9              (1)  any insured, other than an insured who is exempt
   1-10  from federal income tax under Section 501(a) of the Internal
   1-11  Revenue Code of 1986 (26 U.S.C. Section 501(a)) by being described
   1-12  by Section 501(c)(3) of that code, whose net worth on December 31
   1-13  of the year next preceding the date the insurer becomes an impaired
   1-14  insurer exceeds $50 million and whose liability obligations to
   1-15  other persons under a policy or contract of insurance written,
   1-16  issued, and placed in force after January 1, 1992, are satisfied in
   1-17  whole or in part by payments made under this Act; and
   1-18              (2)  any person who is an affiliate of the impaired
   1-19  insurer and whose liability obligations to other persons are
   1-20  satisfied in whole or in part by payments made under this Act.
   1-21        SECTION 2.  The change in law made by this Act does not apply
   1-22  to a recovery under Section 11, Article 21.28-C, Insurance Code,
   1-23  that has been reduced to a final judgment before the effective date
   1-24  of this Act.
    2-1        SECTION 3.  The importance of this legislation and the
    2-2  crowded condition of the calendars in both houses create an
    2-3  emergency and an imperative public necessity that the
    2-4  constitutional rule requiring bills to be read on three several
    2-5  days in each house be suspended, and this rule is hereby suspended,
    2-6  and that this Act take effect and be in force from and after its
    2-7  passage, and it is so enacted.