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A BILL TO BE ENTITLED
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AN ACT
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relating to an insurer's compliance with National Association of |
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Insurance Commissioners requirements. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 36.004, Insurance Code, is amended to |
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read as follows: |
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Sec. 36.004. COMPLIANCE WITH NATIONAL ASSOCIATION OF |
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INSURANCE COMMISSIONERS REQUIREMENTS. (a) Except as provided by |
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Section 36.005 and notwithstanding any other law, the department |
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may not require an insurer to comply with a rule, regulation, |
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directive, or standard adopted by the National Association of |
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Insurance Commissioners, including a rule, regulation, directive, |
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or standard relating to policy reserves, unless application of that |
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version of the rule, regulation, directive, or standard is |
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expressly authorized by statute [and approved by the commissioner]. |
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(b) For purposes of Subsection (a), a version of a rule, |
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regulation, directive, or standard is expressly authorized by |
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statute if: |
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(1) the statute explicitly authorizes that version; or |
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(2) that version is the latest version of the rule, |
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regulation, directive, or standard on the date that the statute was |
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enacted. |
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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, 2017. |