|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
|
relating to notification by an insurer of certain disciplinary |
|
actions imposed on the insurer for a violation of the insurance laws |
|
of another state. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 81.003(b), Insurance Code, is amended to |
|
read as follows: |
|
(b) An insurer shall notify the commissioner and shall |
|
deliver a copy of any applicable order or judgment to the |
|
commissioner not later than the 30th day after the date of the: |
|
(1) suspension or revocation of the insurer's right to |
|
transact business in another state; or |
|
(2) receipt of an order to show cause why the insurer's |
|
license in another state should not be suspended or revoked[; or
|
|
[(3)
imposition of a penalty, forfeiture, or sanction
|
|
on the insurer for a violation of the insurance laws of another
|
|
state]. |
|
SECTION 2. This Act takes effect September 1, 2017. |
|
|
|
* * * * * |