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A BILL TO BE ENTITLED
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AN ACT
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relating to requirements for attorneys in fact under Lloyd's plans. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 941.101(b), Insurance Code, is amended |
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to read as follows: |
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(b) Except as otherwise provided by this chapter, an |
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attorney in fact must: |
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(1) be a resident of this state; [and] |
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(2) maintain the attorney in fact's office in this |
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state; and |
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(3) be made a party to any suit brought to enforce the |
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obligations of the Lloyd's plan under a contract of insurance. |
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SECTION 2. The change in law made by this Act applies only |
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to an insurance policy that is delivered, issued for delivery, or |
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renewed on or after January 1, 2010. A policy delivered, issued for |
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delivery, or renewed before January 1, 2010, is governed by the law |
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as it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2009. |