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A BILL TO BE ENTITLED
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AN ACT
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relating to underinsured motorist coverage. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1952.106, Insurance Code, is amended to |
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read as follows: |
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Sec. 1952.106. RECOVERY UNDER UNDERINSURED MOTORIST |
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COVERAGE. Underinsured motorist coverage must provide for payment |
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to the insured of all amounts that the insured is legally entitled |
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to recover as damages from owners or operators of underinsured |
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motor vehicles because of bodily injury or property damage, not to |
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exceed the limit specified in the insurance policy, and reduced by |
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the amount recovered or recoverable from the insurer of the |
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underinsured motor vehicle. This payment shall be in addition to |
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any other benefit provided by the policy. |
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SECTION 2. This Act applies only to an action commenced on |
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or after the effective date of this Act. An action that is |
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commenced before the effective date of this Act is governed by the |
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law applicable to the action immediately before the effective date |
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of this Act, and that law is continued in effect for that purpose. |
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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, 2009. |