| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the submission of annual reports by farm mutual |
|
|
insurance companies. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 911.304(b), Insurance Code, is amended |
|
|
to read as follows: |
|
|
(b) The annual report must show: |
|
|
(1) the [rate and] total amount of premiums [or
|
|
|
assessments] paid during the year for the policyholders' insurance; |
|
|
(2) the company's operating expenses; and |
|
|
(3) the total amount of claims paid and the amount paid |
|
|
for each covered peril [name of each claimant and the amount paid
|
|
|
for each loss suffered, except as provided by Subsection (c)]. |
|
|
SECTION 2. Section 911.304(c), Insurance Code, is repealed. |
|
|
SECTION 3. This Act takes effect September 1, 2007. |