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A BILL TO BE ENTITLED
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AN ACT
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relating to the qualifications of certain nonresident individuals |
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to hold a surplus lines agent license. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 981.203, Insurance Code, is amended by |
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adding Subsection (a-1) to read as follows: |
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(a-1) Notwithstanding Subsection (a)(1)(B), an individual |
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is not required to obtain a general property and casualty or a |
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managing general agent license to hold a surplus lines agent |
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license if: |
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(1) the individual is a nonresident of this state; |
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(2) the individual is licensed as a surplus lines |
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agent in the individual's state of residence; |
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(3) the individual is not required by the individual's |
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state of residence to hold a general property and casualty license |
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to become licensed as a surplus lines agent; |
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(4) the individual has provided information |
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acceptable to the commissioner that the individual's state of |
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residence does not require a property and casualty agent license |
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for a surplus lines agent license; |
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(5) the individual's state of residence does not |
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require a surplus lines agent to search for the availability of |
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insurance in the individual's state of residence before the |
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insurance is placed through a surplus lines agent; |
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(6) the individual's state of residence allows a |
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licensed general property and casualty agent to search for the |
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availability of insurance in the individual's state of residence; |
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and |
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(7) the individual has a professional relationship |
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with a person who: |
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(A) is a licensed general property and casualty |
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agent; and |
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(B) searches for the availability of insurance in |
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this state before the insurance is placed through a surplus lines |
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agent. |
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SECTION 2. The change in law made by this Act applies to a |
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license application submitted on or after the effective date of |
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this Act. A license application submitted before the effective |
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date of this Act is governed by the law in effect immediately before |
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the effective date of this Act, and that law is continued in effect |
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for that purpose. |
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SECTION 3. This Act takes effect September 1, 2013. |