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A BILL TO BE ENTITLED
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AN ACT
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relating to regulation of policy forms for certain commercial |
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property and casualty insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2301.005, Insurance Code, is amended to |
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read as follows: |
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Sec. 2301.005. REGULATION OF INLAND MARINE AND COMMERCIAL |
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FORMS. (a) The commissioner shall adopt rules governing the manner |
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in which forms for the various classifications of risks insured |
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under inland marine insurance, as determined by the commissioner, |
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are regulated. |
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(b) The commissioner may adopt rules governing the manner in |
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which forms for commercial lines of insurance, as determined by the |
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commissioner, are regulated. |
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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, 2015. |