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A BILL TO BE ENTITLED
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AN ACT
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relating to commissions paid by the Texas Windstorm Insurance |
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Association. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 2210.355(g), Insurance Code, is amended |
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to read as follows: |
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(g) A commission paid to an agent for an association policy |
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must be reasonable, adequate, not unfairly discriminatory, and |
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nonconfiscatory and may not exceed 10% with refund for any unearned |
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portion. |
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SECTION 2. 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, 2011. |