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A BILL TO BE ENTITLED
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AN ACT
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relating to the requirement that certain insurers provide consumers |
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with information related to improving their credit scores. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 559, Insurance Code, is |
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amended by adding Section 559.0031 to read as follows: |
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Sec. 559.0031. INFORMATION PROVIDED TO CONSUMERS. An |
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insurer shall provide a consumer with specific information related |
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to improving the consumer's credit score under the insurer's credit |
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scoring methodology not later than the 10th day after the date the |
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insurer determines the consumer's credit score. |
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SECTION 2. The change in law made by this Act applies only |
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to an insurer that determines a consumer's credit score on or after |
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the effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2011. |