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2003S0526-1 03/06/03


By:  Averitt                                                      S.B. No. 1328


A BILL TO BE ENTITLED

AN ACT

relating to insurance requirements for commercial motor vehicles.             
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 643.101, Transportation Code, is amended 
by adding Subsection (d) to read as follows:
	(d)  Any insurance required for a commercial motor vehicle 
must be obtained from a reliable insurance company authorized to do 
business in this state unless state law permits the vehicle to be 
self-insured.  An insurance company is deemed reliable under this 
subsection if it has 100 percent reinsurance for the portion of 
insurance required for a commercial motor vehicle in excess of 10 
percent of the insurance company's capital and surplus and if 
credit is allowed for such reinsurance under Article 5.75-1, 
Insurance Code.
	SECTION 2.  This Act takes effect September 1, 2003.