By Maxey H.B. No. 614 77R2322 AJA-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to requiring insurers to report rates and rate changes to 1-3 the Texas Department of Insurance. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 38, Insurance Code, is amended by adding 1-6 Subchapter F to read as follows: 1-7 SUBCHAPTER F. RATE REPORTING 1-8 Sec. 38.251. DEFINITION. In this subchapter, "insurer" means 1-9 an insurance company or other entity that is admitted to do 1-10 business and authorized to write insurance in this state, 1-11 including: 1-12 (1) a county mutual insurance company; 1-13 (2) a Lloyd's plan insurer; and 1-14 (3) a reciprocal or interinsurance exchange. 1-15 Sec. 38.252. REPORT OF RATE CHANGE REQUIRED. If an insurer 1-16 changes the rates charged for insurance coverage offered by the 1-17 insurer, the insurer shall report the new rates to the department. 1-18 The report must include a schedule of the insurer's rates and the 1-19 amount of the policy fee, inspection fee, membership fee, or 1-20 initial charge, by whatever name that charge is called, to be 1-21 charged to a policyholder or an applicant for a policy. 1-22 Sec. 38.253. RULES. The commissioner may adopt rules 1-23 necessary to implement this subchapter, including rules relating 1-24 to: 2-1 (1) the format for making a report required under this 2-2 subchapter; 2-3 (2) the time for making a report required under this 2-4 subchapter; and 2-5 (3) combining a report required under this subchapter 2-6 with other reports the insurer is required to make to the 2-7 department. 2-8 SECTION 2. This Act takes effect September 1, 2001.