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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of certain insurers to engage in the |
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business of health insurance in this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 982.051, Insurance Code, is amended to |
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read as follows: |
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Sec. 982.051. CERTIFICATE OF AUTHORITY REQUIRED FOR LIFE, |
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HEALTH, OR ACCIDENT COMPANIES. A foreign insurance company may not |
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engage in the business of insurance as a life insurance company, |
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accident insurance company, life and accident insurance company, |
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health and accident insurance company, or life, health, and |
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accident insurance company in this state, except for the lending of |
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money, without first obtaining from the department a certificate of |
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authority that: |
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(1) shows that the foreign insurance company has fully |
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complied with the laws of this state or obtained a waiver under |
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Section 982.113(c); and |
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(2) authorizes the foreign insurance company to engage |
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in the business of insurance in this state. |
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SECTION 2. Section 982.113, Insurance Code, is amended by |
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adding Subsections (c), (d), and (e) to read as follows: |
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(c) Notwithstanding the requirements of Subsections (a) and |
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(b), the commissioner, for a foreign insurer, shall waive any |
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prerequisite described by this subchapter to obtaining a |
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certificate of authority to engage in a type of business regulated |
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under Title 8, if: |
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(1) the foreign insurer holds a license, certificate |
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of authority, or similar authorization issued by another state to |
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engage in that same type of business; and |
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(2) the issuing state has licensing, certification, or |
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authorization requirements substantially equivalent to the |
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requirements of this subchapter. |
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(d) A certificate of authority issued under Subsection (c) |
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must authorize the foreign insurer to issue in this state the same |
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levels and types of coverage as the insurer is authorized to issue |
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in the state issuing the license, certificate of authority, or |
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other authorization that provided the basis for the waiver of |
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prerequisites under Subsection (c), regardless of whether those |
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levels or types of coverage are otherwise authorized in this state. |
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(e) The commissioner may adopt rules necessary to implement |
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this section. |
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SECTION 3. This Act takes effect September 1, 2009. |