By: Sibley S.B. No. 1793
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to meetings of the commissioner of insurance with the
1-3 board of directors of certain guaranty associations.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 551.079, Government Code, is amended to
1-6 read as follows:
1-7 Sec. 551.079. TEXAS DEPARTMENT [STATE BOARD] OF INSURANCE.
1-8 (a) The requirements of this chapter do not apply to a meeting of
1-9 the commissioner of insurance or the commissioner's designee with
1-10 the board of directors of a guaranty association established under
1-11 Article 9.48, 21.28-C, or 21.28-D, Insurance Code, [State Board of
1-12 Insurance] in the discharge of the commissioner's duties and
1-13 responsibilities to regulate and maintain the solvency of a person
1-14 regulated by the Texas Department of Insurance [board].
1-15 (b) The commissioner of insurance [board] may deliberate and
1-16 determine the appropriate action to be taken concerning the
1-17 solvency of a person regulated by the Texas Department of Insurance
1-18 [board] in a closed meeting with persons in one or more of the
1-19 following categories:
1-20 (1) staff of the Texas Department of Insurance
1-21 [board];
1-22 (2) a regulated person; [or]
1-23 (3) representatives of a regulated person; or
1-24 (4) members of the board of directors of a guaranty
1-25 association established under Article 9.48, 21.28-C, or 21.28-D,
2-1 Insurance Code.
2-2 SECTION 2. This Act takes effect September 1, 2001.