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A BILL TO BE ENTITLED
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AN ACT
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relating to the deposit of assessments and fees collected for |
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examination expenses. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 401.156, Insurance Code, is amended to |
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read as follows: |
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Sec. 401.156. DEPOSIT AND USE OF ASSESSMENT AND FEE. |
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(a) The department shall deposit any assessments or fees collected |
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under this subchapter relating to the examination of insurers and |
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other regulated entities by the financial examinations division or |
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actuarial division, as those terms are defined by Section 401.251, |
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to the credit of an account with the Texas Treasury Safekeeping |
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Trust Company to be used exclusively to pay examination costs, as |
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defined by Section 401.251, reimbursement of the Texas Department |
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of Insurance operating account for administrative support costs, |
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and reimbursement of premium tax credits for examination costs and |
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examination overhead assessments. [Money deposited under this
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subsection accumulates and may be disbursed to the department in a
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manner consistent with Subchapter F.] |
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(b) Money deposited under Subsection (a) accumulates and |
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may be disbursed to the department in a manner consistent with that |
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subsection and Subchapter F. |
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(c) Revenue that is not related to the examination of |
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insurers or other regulated entities by the financial examinations |
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division or actuarial division shall be deposited to the credit of |
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the Texas Department of Insurance operating account. |
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(d) [(c)] To the extent that another provision of law |
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conflicts with this section or a provision of this section, this |
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section or the provision of this section controls. |
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(e) [(d)] The department may transfer funds between the |
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account described by Subsection (a) and the Texas Department of |
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Insurance operating account as necessary to ensure that funds are |
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deposited to the correct account and used for the correct purposes. |
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This subsection does not authorize a disbursement or transfer of |
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funds in a manner that is inconsistent with the purpose of |
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Subchapter F and this section. |
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SECTION 2. 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. |
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