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A BILL TO BE ENTITLED
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AN ACT
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relating to title insurance coverage for certain damage to the |
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surface of land. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 2703, Insurance Code, is |
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amended by adding Section 2703.0515 to read as follows: |
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Sec. 2703.0515. CERTAIN PROVISIONS PROHIBITED. (a) A |
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title insurance policy delivered or issued for delivery in this |
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state may not insure against a loss that a person with an interest |
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in real property sustains from damage to an improvement on the |
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property from the use of the surface of the land for the extraction |
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or development of coal, lignite, oil, gas, or another mineral. |
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(b) This section may not be construed to limit the |
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commissioner's authority to prescribe or approve forms or fix and |
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promulgate premium rates under this chapter. |
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SECTION 2. This Act applies only to a title insurance policy |
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that is delivered or issued for delivery on or after January 1, |
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2012. A policy delivered or issued for delivery before January 1, |
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2012, is governed by the law as it existed immediately before the |
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effective date of this Act, and that law is continued in effect for |
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that purpose. |
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SECTION 3. This Act takes effect September 1, 2011. |