By Shields                                      H.B. No. 2274

      75R5814 SAW-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the exemption of insurance benefits and certain annuity

 1-3     proceeds from seizure under process.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Article 21.22, Insurance Code, is amended by

 1-6     adding Section 7 to read as follows:

 1-7           Sec. 7.  The exemptions and protection from seizure under

 1-8     this article are in addition to the exemptions from garnishment,

 1-9     attachment, execution, or other seizure under Chapter 42, Property

1-10     Code.

1-11           SECTION 2.  This Act applies to money or benefits paid or

1-12     rendered to an insured or a beneficiary under an insurance policy

1-13     or annuity contract issued by a life, health, or accident insurance

1-14     company without regard to whether the policy or contract was issued

1-15     or entered into before, on, or after the effective date of this

1-16     Act.

1-17           SECTION 3.  The importance of this legislation and the

1-18     crowded condition of the calendars in both houses create an

1-19     emergency and an imperative public necessity that the

1-20     constitutional rule requiring bills to be read on three several

1-21     days in each house be suspended, and this rule is hereby suspended,

1-22     and that this Act take effect and be in force from and after its

1-23     passage, and it is so enacted.