Amend Floor Amendment No. 1 to HB 1453 by inserting the
following new SECTION, appropriately numbered, and renumbering
subsequent SECTIONS of the bill accordingly:
      SECTION ____. Article 9.55, Insurance Code, is amended to
read as follows:
      Art. 9.55.  REQUIREMENT FOR ISSUANCE OF OWNERS AND MORTGAGEE
TITLE POLICIES IN CONNECTION WITH RESIDENTIAL PROPERTY; SELECTION
OF TITLE INSURANCE COMPANY. (a) After September 1, 1999 <January 1,
1976>, whenever any improved residential real property situated in
the State of Texas shall be sold or mortgaged and a mortgagee
policy of title insurance or other form of agreement or the
equivalent thereof that constitutes the business of title insurance
is issued in connection with a lien thereon, the title insurance
company or title insurance agent so issuing such mortgagee policy
of title insurance form or agreement or the equivalent thereof
shall also issue an owner policy of title insurance to the owner of
such property and the required premium as promulgated by the
commissioner shall be charged.
      (b)  The provisions of Subsection (a) of this article may,
however, be rejected, provided that the person acquiring title
shall, at or prior to closing and settlement, execute a written and
acknowledged rejection wherein the purchaser rejects issuance of
such owner title policy.  The form of such rejection shall be
prescribed, after notice and hearing, by the commissioner.
      (c)  The person purchasing or mortgaging the improved
residential real property as described by Subsection (a)  of this
article may select the person's choice of title insurance company.
The insured lender may object to the person's selection of title
insurance company for reasonable cause or as otherwise allowed by
law.