S.B. No. 801
  relating to security deposit requirements for certain insurance
         SECTION 1.  Subsections (b) and (d), Section 861.252,
  Insurance Code, are amended to read as follows:
         (b)  If, as a prerequisite to engaging in the business of
  insurance in another state, country, or province, a general
  casualty company is required to deposit with the appropriate
  officer of that state, country, or province, or with the
  comptroller, securities or cash [in excess of the deposit made
  under Subsection (a)], the company may deposit with the comptroller
  any authorized securities or cash sufficient to meet the
  requirement. The comptroller shall receive and hold the deposit
  exclusively for the protection of policyholders of the company.
         (d)  A general casualty company may change the company's
  securities on deposit with the comptroller by withdrawing those
  securities and substituting an equal amount of other securities
  consisting only of:
               (1)  United States currency;
               (2)  bonds of any state;
               (3)  bonds or other evidences of indebtedness of the
  United States the principal and interest of which are guaranteed by
  the United States;
               (4)  bonds or other interest-bearing evidences of
  indebtedness of a county or municipality of any state;
               (5)  notes secured by first mortgages:
                     (A)  on otherwise unencumbered real property in
  this state the title to which is valid; and
                     (B)  the payment of which is insured wholly or
  partly by the United States; or
               (6)  another form of security acceptable to the
  commissioner [authorized by Subsection (a)].
         SECTION 2.  Subsection (a), Section 861.252, and Section
  982.306, Insurance Code, are repealed.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. 801 passed the Senate on
  March 21, 2013, by the following vote:  Yeas 31, Nays 0.
  Secretary of the Senate    
         I hereby certify that S.B. No. 801 passed the House on
  May 14, 2013, by the following vote:  Yeas 143, Nays 0, two
  present not voting.
  Chief Clerk of the House