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A BILL TO BE ENTITLED
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AN ACT
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relating to residential property insured by the Texas Windstorm |
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Insurance Association. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2210.251, Insurance Code, is amended by |
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amending Subsection (f) to read as follows: |
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(f) Notwithstanding any other provision of this section, a |
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residential structure [insured by the association as of September
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1, 2009,] may obtain or continue coverage through the association |
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subject to the inspection requirements imposed under Section |
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2210.258. |
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SECTION 2. Section 2210.259, Insurance Code, is amended by |
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amending Subsection (a) to read as follows: |
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(a) A noncompliant residential structure insured by the |
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association that is insured under Section 2210.251(f)[as of
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September 1, 2009, under Section 2210.251(f) that had been approved
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for insurability under the approval process regulations in effect
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on September 1, 2009,] is subject to an annual premium surcharge in |
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an amount equal to 15 percent of the premium for insurance coverage |
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obtained through the association. The surcharge under this |
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subsection applies to each policy issued or renewed by the |
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association on or after the effective date of Sections 5 through 49, |
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H.B. No. 4409, Acts of the 81st Legislature, Regular Session, 2009, |
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and is due on the issuance or renewal of the policy. |
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SECTION 3. Section 2210.260, Insurance Code, is repealed. |
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SECTION 4. 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. |