|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the delivery of personal automobile and residential |
|
property insurance policies; adding provisions that may be subject |
|
to a criminal penalty. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subtitle B, Title 5, Insurance Code, is amended |
|
by adding Chapter 525 to read as follows: |
|
CHAPTER 525. DELIVERY OF INSURANCE POLICIES |
|
Sec. 525.001. APPLICABILITY OF CHAPTER. This chapter applies |
|
to an insurer, as defined by Section 38.002, writing personal |
|
automobile insurance or residential property insurance, as defined |
|
by Section 2301.051, in this state. |
|
Sec. 525.002. DELIVERY OF INSURANCE POLICIES. (a) Except |
|
as provided by Subsection (b), an insurer to whom this chapter |
|
applies or the insurer's agent shall deliver a policy issued by the |
|
insurer to the policyholder: |
|
(1) not later than: |
|
(A) the 30th day after the effective date of the |
|
policy if the policy term is more than 30 days; or |
|
(B) the 10th day after the effective date of the |
|
policy if the policy term is more than 10 days and less than 31 days; |
|
or |
|
(2) within the policy period for a policy with a term |
|
of 10 days or less. |
|
(b) An insurer to whom this chapter applies or the insurer's |
|
agent shall deliver a policy renewed or amended by the insurer to |
|
the policyholder not later than the 15th day after the date the |
|
insurer or insurer's agent receives a written request from the |
|
policyholder that the policy be delivered to the policyholder. |
|
SECTION 2. Chapter 525, Insurance Code, as added by this |
|
Act, applies only to an insurance policy that is delivered, issued |
|
for delivery, or renewed on or after the effective date of this Act. |
|
A policy delivered, issued for delivery, or renewed before the |
|
effective date of this Act is governed by the law as it existed |
|
immediately before that date, and that law is continued in effect |
|
for that purpose. |
|
SECTION 3. This Act takes effect September 1, 2015. |