1-1 By: Ellis S.B. No. 323
1-2 (In the Senate - Filed January 29, 1999; February 2, 1999,
1-3 read first time and referred to Committee on Economic Development;
1-4 April 9, 1999, reported favorably by the following vote: Yeas 7,
1-5 Nays 0; April 9, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the types of insurance covered by the program to assist
1-9 persons in obtaining residential property insurance in underserved
1-10 areas.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. Subsection (a), Section 1, Article 21.49-12,
1-13 Insurance Code, is amended to read as follows:
1-14 (a) The commissioner shall establish a voluntary mechanism
1-15 to be called a market assistance program to assist insureds in
1-16 Texas in obtaining residential property insurance coverage in
1-17 underserved areas, which shall be determined and designated by the
1-18 commissioner by rule using the standards specified in Section 1,
1-19 Article 5.35-3, of this code. For purposes of this article,
1-20 residential property insurance means insurance against loss to real
1-21 or tangible personal property at a fixed location provided in a
1-22 homeowners policy or a[,] residential fire and allied lines policy,
1-23 but does not include a [or] farm and ranch owners policy. The
1-24 types of risks to be assisted under the market assistance program
1-25 will be established by the commissioner. A market assistance
1-26 program division shall be established in and operated by the Texas
1-27 Department of Insurance.
1-28 SECTION 2. This Act takes effect September 1, 1999.
1-29 SECTION 3. The importance of this legislation and the
1-30 crowded condition of the calendars in both houses create an
1-31 emergency and an imperative public necessity that the
1-32 constitutional rule requiring bills to be read on three several
1-33 days in each house be suspended, and this rule is hereby suspended.
1-34 * * * * *