Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB1812 by Duncan (Relating to notice to an insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code regarding a notice to an insurer of an adverse claim to policy proceeds. Based on the analysis by the Texas Department of Insurance, any costs associated with the implementation of this bill could be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.