|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the registration with the Texas Department of Insurance |
|
of certain contract examiners. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 401.107, Insurance Code, is amended by |
|
amending Subsection (a) and adding Subsection (a-1) to read as |
|
follows: |
|
(a) A person with whom another state contracts to perform |
|
any examination initiated by the other state of an insurer |
|
domiciled in this state shall register with and provide the |
|
following information to the department's chief examiner: |
|
(1) the person's name; |
|
(2) if the person is not an individual, the identity of |
|
each examiner or other person who will perform any part of the |
|
examination; |
|
(3) the name of the state that contracted with the |
|
person; |
|
(4) the identity of the insurer to be examined; [and] |
|
(5) a description of each issue that the person has |
|
been contracted to examine; |
|
(6) an estimate of the examination costs to be charged |
|
to the insurer to be examined; |
|
(7) a copy of any contract between the person and the |
|
state regulatory body that initiated the examination and a letter |
|
authorizing the examination; and |
|
(8) a list of the previous examinations conducted on |
|
the same insurer on behalf of any state within the last three years. |
|
(a-1) On accepting a person's registration under Subsection |
|
(a), the department shall send written confirmation of the |
|
acceptance to: |
|
(1) the person; |
|
(2) the insurer to be examined; and |
|
(3) the state regulatory body that initiated the |
|
examination. |
|
SECTION 2. Section 751.052, Insurance Code, is amended by |
|
amending Subsection (b) and adding Subsection (b-1) to read as |
|
follows: |
|
(b) A person with whom another state contracts to perform |
|
any market analysis or examination initiated by the other state of |
|
an insurer domiciled in this state shall register with and provide |
|
the following information to the department's chief examiner: |
|
(1) the person's name; |
|
(2) if the person is not an individual, the identity of |
|
each examiner or other person who will perform any part of the |
|
market analysis or examination; |
|
(3) the name of the state that contracted with the |
|
person; |
|
(4) the identity of the insurer to be examined; [and] |
|
(5) a description of each issue that the person has |
|
been contracted to examine; |
|
(6) an estimate of the examination costs to be charged |
|
to the insurer to be examined; |
|
(7) a copy of any contract between the person and the |
|
state regulatory body that initiated the examination and the letter |
|
authorizing the examination; and |
|
(8) a list of the previous examinations conducted on |
|
the same insurer on behalf of any state within the last three years. |
|
(b-1) On accepting a person's registration under Subsection |
|
(b), the department shall send written confirmation of the |
|
acceptance to: |
|
(1) the person; |
|
(2) the insurer to be examined; and |
|
(3) the state regulatory body that initiated the |
|
examination. |
|
SECTION 3. Section 4053.107, Insurance Code, is amended by |
|
amending Subsection (d) and adding Subsection (d-1) to read as |
|
follows: |
|
(d) A person with whom another state contracts to perform |
|
any examination initiated by the other state of a managing general |
|
agent licensed under this chapter shall register with and provide |
|
the following information to the department's chief examiner: |
|
(1) the person's name; |
|
(2) if the person is not an individual, the identity of |
|
each examiner or other person who will perform any part of the |
|
examination; |
|
(3) the name of the state that contracted with the |
|
person; |
|
(4) the identity of the managing general agent to be |
|
examined; [and] |
|
(5) a description of each issue that the person has |
|
been contracted to examine; |
|
(6) an estimate of the examination costs to be charged |
|
to the managing general agent to be examined; |
|
(7) a copy of any contract between the person and the |
|
state regulatory body that initiated the examination and the letter |
|
authorizing the examination; and |
|
(8) a list of the previous examinations conducted on |
|
the same managing general agent on behalf of any state within the |
|
last three years. |
|
(d-1) On accepting a person's registration under Subsection |
|
(d), the department shall send written confirmation of the |
|
acceptance to: |
|
(1) the person; |
|
(2) the managing general agent to be examined; and |
|
(3) the state regulatory body that initiated the |
|
examination. |
|
SECTION 4. The changes in law made by this Act to Sections |
|
401.107, 751.052, and 4053.107, Insurance Code, apply only to an |
|
examination commencing on or after September 1, 2011. An |
|
examination commencing before September 1, 2011, is subject to the |
|
law in effect on the date the examination was commenced, and that |
|
law is continued in effect for that purpose. |
|
SECTION 5. This Act takes effect immediately if it receives |
|
a vote of two-thirds of all the members elected to each house, as |
|
provided by Section 39, Article III, Texas Constitution. If this |
|
Act does not receive the vote necessary for immediate effect, this |
|
Act takes effect September 1, 2011. |