By:  Ellis                                            S.B. No. 1378

         Line and page numbers may not match official copy.

         Bill not drafted by TLC or Senate E&E.

                                A BILL TO BE ENTITLED

                                       AN ACT

 1-1     relating to the exemption for large risk insurance policies.

 1-2           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-3           SECTION 1.  Amend Sec. 8 (f), Art. 5.13-2, Texas Insurance

 1-4     Code, to read as follows:

 1-5           (f)  Policy forms for use with large risks are exempt from

 1-6     the requirements of Subsections (a), (b), and (e) of this section.

 1-7     For purposes of this subsection, "large risk" means:

 1-8                 (1)  an insured that has total insured property values

 1-9     of $5 [10] million or more;

1-10                 (2)  an insured that has total annual gross revenues of

1-11     $10 [20] million or more; or

1-12                 (3)  an insured that has a total premium of

1-13     $25 [50],000 or more for property insurance, $25 [50],000 or more

1-14     for general liability insurance, or $50 [100],000 or more for

1-15     multi-peril insurance.

1-16           SECTION 2.  The importance of this legislation and the

1-17     crowded condition of the calendars in both houses create an

1-18     emergency and an imperative public necessity that the

1-19     constitutional rule requiring bills to be read on three several

1-20     days in each house be suspended, and this rule is hereby suspended.