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By: Anderson of Dallas |
H.B. No. 2542 |
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(Senate Sponsor - Taylor of Galveston) |
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(In the Senate - Received from the House May 15, 2017; |
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May 15, 2017, read first time and referred to Committee on Business & |
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Commerce; May 21, 2017, reported favorably by the following vote: |
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Yeas 8, Nays 0; May 21, 2017, sent to printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to notice to certain insurers by the Texas Department of |
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Insurance regarding supervision or conservatorship of certain |
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insurance agents. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 441.201, Insurance Code, is amended by |
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adding Subsection (g) to read as follows: |
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(g) Notwithstanding Subsection (a), if the commissioner |
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places a title insurance agent licensed under Title 11 or an |
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insurance agent licensed under Title 13 under supervision or in |
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conservatorship, the commissioner shall provide written notice of |
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the order of supervision or conservatorship to each insurer for |
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which the agent holds an appointment under Subchapter A, Chapter |
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2651, or Subchapter E, Chapter 4001, or other applicable law, on the |
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date the supervisor or conservator is appointed. |
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SECTION 2. Section 441.201(g), Insurance Code, as added by |
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this Act, applies to an order of supervision or conservatorship |
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issued under Chapter 441, Insurance Code, on or after the effective |
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date of this Act. An order issued before the effective date of this |
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Act is governed by the law as it existed immediately before the |
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effective date of this Act, and that law is continued in effect for |
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that purpose. |
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SECTION 3. This Act takes effect September 1, 2017. |
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* * * * * |