|
|
|
|
AN ACT
|
|
relating to the amount of outstanding total liability of a mortgage |
|
guaranty insurer. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subsection (b), Section 3502.156, Insurance |
|
Code, is amended to read as follows: |
|
(b) [A mortgage guaranty insurer shall compute the
|
|
insurer's liability for the purposes of this section on the basis of
|
|
the insurer's liability under the election as provided by Section
|
|
3502.158.] An insurer shall compute the insurer's liability for |
|
leases on the basis of the insurer's liability as determined by the |
|
department. |
|
SECTION 2. Section 3502.158, Insurance Code, is repealed. |
|
SECTION 3. 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, 2013. |
|
|
|
|
|
|
|
|
______________________________ |
______________________________ |
|
President of the Senate |
Speaker of the House |
|
|
I hereby certify that S.B. No. 147 passed the Senate on |
|
March 13, 2013, by the following vote: Yeas 31, Nays 0. |
|
|
|
|
______________________________ |
|
Secretary of the Senate |
|
|
I hereby certify that S.B. No. 147 passed the House on |
|
May 20, 2013, by the following vote: Yeas 144, Nays 0, one |
|
present not voting. |
|
|
|
|
______________________________ |
|
Chief Clerk of the House |
|
|
|
|
|
Approved: |
|
|
|
______________________________ |
|
Date |
|
|
|
|
|
______________________________ |
|
Governor |