By: Phillips (Senate Sponsor - Hancock) H.B. No. 2437

(In the Senate - Received from the House April 26, 2017; May 4, 2017, read first time and referred to Committee on Business & Commerce; May 10, 2017, reported favorably by the following vote: Yeas 7, Nays 0; May 10, 2017, sent to printer.) Click here to see the committee vote

A BILL TO BE ENTITLED

AN ACT

relating to confidentiality of reports and related information for a solvency examination of an insurance carrier.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 401.058, Insurance Code, is amended by amending Subsection (a) and adding Subsection (c) to read as follows:

(a) Except as provided by Subsection (c), a [A] final or preliminary examination report and any information obtained during an examination are confidential and privileged for all purposes. This information is [are] not subject to:

(1) disclosure under Chapter 552, Government Code;

(2) a subpoena, other than a grand jury subpoena; or

(3) discovery or admissibility in evidence in a civil action.

(c) Subsection (a) does not limit the commissioner's authority to use a final or preliminary examination report and any information obtained during an examination in the furtherance of any legal or regulatory action that the commissioner, in the commissioner's sole discretion, considers appropriate.

SECTION 2. 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, 2017.

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