By: Ellis S.B. No. 323
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the types of insurance covered by the program to assist
1-2 persons in obtaining residential property insurance in underserved
1-3 areas.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Subsection (a), Section 1, Article 21.49-12,
1-6 Insurance Code, is amended to read as follows:
1-7 (a) The commissioner shall establish a voluntary mechanism
1-8 to be called a market assistance program to assist insureds in
1-9 Texas in obtaining residential property insurance coverage in
1-10 underserved areas, which shall be determined and designated by the
1-11 commissioner by rule using the standards specified in Section 1,
1-12 Article 5.35-3, of this code. For purposes of this article,
1-13 residential property insurance means insurance against loss to real
1-14 or tangible personal property at a fixed location provided in a
1-15 homeowners policy or a[,] residential fire and allied lines policy,
1-16 but does not include a [or] farm and ranch owners policy. The
1-17 types of risks to be assisted under the market assistance program
1-18 will be established by the commissioner. A market assistance
1-19 program division shall be established in and operated by the Texas
1-20 Department of Insurance.
1-21 SECTION 2. This Act takes effect September 1, 1999.
1-22 SECTION 3. The importance of this legislation and the
1-23 crowded condition of the calendars in both houses create an
1-24 emergency and an imperative public necessity that the
2-1 constitutional rule requiring bills to be read on three several
2-2 days in each house be suspended, and this rule is hereby suspended.