SRC-JFA H.B. 1632 75(R) BILL ANALYSIS Senate Research Center H.B. 1632 By: Flores (Patterson) Economic Development 5-4-97 Engrossed DIGEST Currently, the Texas Catastrophe Property Association (association) serves as the insurer of last resort for residential and commercial properties along the Texas coast that are unable to obtain insurance in the voluntary market. This bill would change the name of the association to the Texas Windstorm Insurance Association in various articles of the Insurance Code. PURPOSE As proposed, H.B. 1632 amends the name of the Texas Catastrophe Property Association to the Texas Windstorm Insurance Association in various provisions of the Insurance Code. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 3(2), Article 5.13-2, Insurance Code, to redefine "insurer." SECTION 2. Amends Section 2, Article 21.49, Insurance Code, to require this Act to be known as the Texas Windstorm Insurance Association Act, rather than the Texas Catastrophe Property Insurance Pool Act. SECTION 3. Amends Section 3(b), Article 21.49, Insurance Code, to redefine "association" to mean the Texas Windstorm Insurance Association, rather than the Texas Catastrophe Property Insurance Association, as established pursuant to the provisions of this Act. SECTION 4. Amends the heading to Section 4, Article 21.49, Insurance Code, as follows: Sec. 4. New heading: CREATION OF THE TEXAS WINDSTORM INSURANCE ASSOCIATION. SECTION 5. Amends the heading to Section 5, Article 21.49, Insurance Code, as follows: Sec. 5. New heading: OPERATION OF THE TEXAS WINDSTORM INSURANCE ASSOCIATION; ASSOCIATION BOARD OF DIRECTORS. SECTION 6. Amends Article 24.17(f), Insurance Code, to make conforming changes. SECTION 7. Amends Article 24.22, Insurance Code, to make a conforming change. SECTION 8. Emergency clause. Effective date: upon passage.