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A BILL TO BE ENTITLED
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AN ACT
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relating to the submission of annual reports by farm mutual |
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insurance companies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (b), Section 911.304, Insurance Code, |
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is amended to read as follows: |
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(b) The annual report must show: |
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(1) the [rate and] total amount of premiums [or
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assessments] paid during the year for the policyholders' insurance; |
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(2) the company's operating expenses; and |
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(3) the total amount of claims paid and the amount paid |
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for each covered peril [name of each claimant and the amount paid
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for each loss suffered, except as provided by Subsection (c)]. |
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SECTION 2. Subsection (c), Section 911.304, Insurance Code, |
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is repealed. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |