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A BILL TO BE ENTITLED
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AN ACT
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relating to the amount of outstanding total liability of a mortgage |
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guaranty insurer. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 3502.156(b), Insurance Code, is amended |
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to read as follows: |
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(b) [A mortgage guaranty insurer shall compute the
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insurer's liability for the purposes of this section on the basis of
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the insurer's liability under the election as provided by Section
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3502.158.] An insurer shall compute the insurer's liability for |
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leases on the basis of the insurer's liability as determined by the |
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department. |
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SECTION 2. Section 3502.158, Insurance Code, is repealed. |
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SECTION 3. 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, 2013. |