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A BILL TO BE ENTITLED
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AN ACT
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relating to exemptions to persons required to hold a limited |
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property and casualty license. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 4051.101(c), Insurance Code, is amended |
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by adding Subdivision (3) to read as follows: |
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Sec. 4051.101. LICENSE REQUIRED. (a) Except as provided by |
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Section 4051.052, a person is required to hold a limited property |
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and casualty license if the person acts as an agent who writes: |
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(1) job protection insurance as defined by Section |
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962.002; |
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(2) exclusively, insurance on growing crops under |
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Subchapter F; |
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(3) any form of insurance authorized under Chapter 911 |
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for a farm mutual insurance company; |
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(4) exclusively, any form of insurance authorized to |
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be solicited and written in this state that relates to: |
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(A) the ownership, operation, maintenance, or |
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use of a motor vehicle designed for use on the public highways, |
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including a trailer or semitrailer, and the motor vehicle's |
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accessories or equipment; or |
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(B) the ownership, occupancy, maintenance, or |
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use of a manufactured home classified as personal property under |
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Section 2.001, Property Code; |
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(5) a prepaid legal services contract under Article |
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5.13-1 or Chapter 961; |
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(6) exclusively, an industrial fire insurance policy: |
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(A) covering dwellings, household goods, and |
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wearing apparel; |
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(B) written on a weekly, monthly, or quarterly |
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basis on a continuous premium payment plan; and |
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(C) written for an insurer exclusively engaged in |
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the business as described by Section 912.310; |
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(7) credit insurance, except as otherwise provided by |
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Chapter 4055; or |
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(8) any other kind of insurance, if holding a limited |
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property and casualty license to write that kind of insurance is |
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determined necessary by the commissioner for the protection of the |
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insurance consumers of this state. |
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(b) Subsection (a)(2) applies to an entity chartered by the |
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federal Farm Credit Administration, as provided by the farm credit |
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system under 12 U.S.C. Section 2001 et seq., as amended. |
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(c) This section does not apply to a person who wrote for the |
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previous calendar year: |
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(1) policies authorized by Chapter 911 for a farm |
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mutual insurance company that generated, in the aggregate, less |
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than $50,000 in direct premium; or |
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(2) industrial fire insurance policies that |
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generated, in the aggregate, less than $20,000 in direct premium.
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or |
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(3) policies authorized by Chapter 962 for an |
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insurance company that generated, in the aggregate, less than |
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$40,000 in direct premium. |
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SECTION 2. This Act takes effect September 1, 2011. |