Amend SB 206 as follows:
      (1)  Insert the following sections, appropriately numbered:
      SECTION __.  Sections 1(b) and (c), Chapter 213, Acts of the
54th Legislature, Regular Session, 1955 (Article 21.07-1, Vernon's
Texas Insurance Code), are amended to read as follows:
      (b)  The term "life insurance agent" for the purpose of this
Act means any person or corporation that is an authorized agent of
a legal reserve life insurance company, and any person who is a
sub-agent of such agent, who acts as such, whether through an oral,
written, or electronic communication or otherwise, in the
solicitation of, negotiation for, or procurement of, or collection
of premiums on, an insurance or annuity contract with a legal
reserve life insurance company;  except that the term "life
insurance agent" shall not include:
            (1)  any regular salaried officer or employee of a
legal reserve life insurance company, or of a licensed life
insurance agent, who devotes substantially all of his or her time
to activities other than the solicitation of applications for
insurance or annuity contracts and receives no commission or other
compensation directly dependent upon the business obtained, and who
does not solicit or accept from the public applications for
insurance or annuity contracts;
            (2)  employers or their officers or employees, or the
trustees of any employee benefit plan, to the extent that such
employers, officers, employees or trustees are engaged in the
administration or operation of any program of employee benefits
involving the use of insurance or annuities issued by a legal
reserve life insurance company, provided that such employers,
officers, employees or trustees are not in any manner compensated,
directly or indirectly, by the legal reserve life insurance company
issuing such insurance or annuity contracts;
            (3)  banks, savings and loan associations, or credit
unions, or the officers and employees of banks, savings and loan
associations, or credit unions, to the extent that such banks,
savings and loan associations, credit unions, or officers and
employees collect and remit premiums by charging same against
accounts of depositors on the orders of such depositors;
            (4)  a ticket-selling agent of a public carrier with
respect to accident life insurance tickets covering risks of
travel; or
            (5)  an agent selling credit life, health and accident
insurance issued exclusively in connection with credit
transactions, or acting as agent or solicitor for health and
accident insurance under license issued pursuant to the provisions
of Article 21.14 of the Texas Insurance Code.
      (c)  The term "sub-agent" means any person, except a regular
salaried officer or employee of a legal reserve life insurance
company, or of a licensed life insurance agent, engaging in
activities defined in Paragraph 1(b), above, who acts for or on
behalf of a licensed life insurance agent, whether through an oral,
written, or electronic communication or otherwise, in the
solicitation of, negotiation for, or procurement or making of, or
collection of premiums on, an insurance or annuity contract,
whether or not he is designated by such agent as a sub-agent or a
solicitor or by any other title.  Each such sub-agent shall be
deemed to be a life insurance agent, as defined above, and
wherever, in succeeding Sections of this Act, the term "life
insurance agent" is used, it shall include sub-agents, whether or
not they are specifically mentioned.  Each such sub-agent shall be
subject to the provisions of this Act to the same extent as a life
insurance agent.
      SECTION __.  Section 16(a), Chapter 213, Acts of the 54th
Legislature, Regular Session, 1955 (Article 21.07-1, Vernon's Texas
Insurance Code), is amended to read as follows:
      (a)  In this section, "accident and health insurance agent"
means any person or corporation that is an authorized agent of a
legal reserve life insurance company and who acts as such agent,
whether through an oral, written, or electronic communication or
otherwise, only in the solicitation of, negotiation for,
procurement of, or collection of premiums on an accident and health
insurance contract with a legal reserve life insurance company, but
does not include:
            (1)  a regular salaried officer or employee of a legal
reserve life insurance company, or of a licensed life or accident
and health insurance agent, who devotes substantially all of his or
her time to activities other than the solicitation of applications
for insurance contracts and receives no commission or other
compensation directly dependent upon the business obtained and who
does not solicit or accept from the public applications for
insurance contracts;
            (2)  employers or their officers or employees, or the
trustees of any employee benefit plan, to the extent that those
employers, officers, employees, or trustees are engaged in the
administration or operation of any program of employee benefits
involving the use of insurance issued by a legal reserve life
insurance company, provided that those employers, officers,
employees, or trustees are not in any manner compensated directly
or indirectly by the legal reserve life insurance company issuing
the insurance contracts;
            (3)  banks or their officers and employees to the
extent that the banks, or their officers, and employees collect and
remit premiums by charging the premiums against the account of a
depositor on the orders of the depositor;
            (4)  a ticket-selling agent of a public carrier with
respect to accident and health insurance tickets covering risks of
travel; or
            (5)  an agent selling credit health and accident
insurance issued exclusively in connection with credit
transactions, or acting as agent or solicitor for health and
accident insurance under a license issued under either Article
21.07, Article 21.07-1, or Article 21.14, Insurance Code.
      (2)  Renumber sections of the bill appropriately.