1-1 By: Sibley S.B. No. 1793
1-2 (In the Senate - Filed April 5, 2001; April 5, 2001, read
1-3 first time and referred to Committee on Business and Commerce;
1-4 April 24, 2001, reported adversely, with favorable Committee
1-5 Substitute by the following vote: Yeas 7, Nays 0; April 24, 2001,
1-6 sent to printer.)
1-7 COMMITTEE SUBSTITUTE FOR S.B. No. 1793 By: Sibley
1-8 A BILL TO BE ENTITLED
1-9 AN ACT
1-10 relating to meetings of the commissioner of insurance with the
1-11 board of directors of certain guaranty associations.
1-12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13 SECTION 1. Section 551.079, Government Code, is amended to
1-14 read as follows:
1-15 Sec. 551.079. TEXAS DEPARTMENT [STATE BOARD] OF INSURANCE.
1-16 (a) The requirements of this chapter do not apply to a meeting of
1-17 the commissioner of insurance or the commissioner's designee with
1-18 the board of directors of a guaranty association established under
1-19 Article 9.48, 21.28-C, or 21.28-D, Insurance Code, [State Board of
1-20 Insurance] in the discharge of the commissioner's duties and
1-21 responsibilities to regulate and maintain the solvency of a person
1-22 regulated by the Texas Department of Insurance [board].
1-23 (b) The commissioner of insurance [board] may deliberate and
1-24 determine the appropriate action to be taken concerning the
1-25 solvency of a person regulated by the Texas Department of Insurance
1-26 [board] in a closed meeting with persons in one or more of the
1-27 following categories:
1-28 (1) staff of the Texas Department of Insurance
1-29 [board];
1-30 (2) a regulated person; [or]
1-31 (3) representatives of a regulated person; or
1-32 (4) members of the board of directors of a guaranty
1-33 association established under Article 9.48, 21.28-C, or 21.28-D,
1-34 Insurance Code.
1-35 SECTION 2. This Act takes effect September 1, 2001.
1-36 * * * * *