By: Taylor of Galveston  S.B. No. 1449
         (In the Senate - Filed March 8, 2017; March 20, 2017, read
  first time and referred to Committee on Business & Commerce;
  April 24, 2017, reported adversely, with favorable Committee
  Substitute by the following vote:  Yeas 9, Nays 0; April 24, 2017,
  sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.B. No. 1449 By:  Taylor of Galveston
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to an insurer's compliance with National Association of
  Insurance Commissioners requirements.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 36.004, Insurance Code, is amended to
  read as follows:
         Sec. 36.004.  COMPLIANCE WITH NATIONAL ASSOCIATION OF
  INSURANCE COMMISSIONERS REQUIREMENTS; INTERIM RULES. (a)  Except
  as provided by Subsection (c) and Section 36.005 and
  notwithstanding any other law, the department may not require an
  insurer to comply with a rule, regulation, directive, or standard
  adopted by the National Association of Insurance Commissioners,
  including a rule, regulation, directive, or standard relating to
  policy reserves, unless application of that version of the rule,
  regulation, directive, or standard is expressly authorized by
  statute [and approved by the commissioner].
         (b)  For purposes of Subsection (a), a version of a rule,
  regulation, directive, or standard is expressly authorized by
  statute if:
               (1)  the statute explicitly authorizes that version; or 
               (2)  that version is the latest version of the rule,
  regulation, directive, or standard on the date that the statute was
  enacted.
         (c)  The commissioner may adopt an interim rule to require
  compliance with a rule, regulation, directive, or standard adopted
  by the National Association of Insurance Commissioners if:
               (1)  the commissioner finds the rule is technical or
  nonsubstantive in nature or necessary to preserve the department's
  accreditation; and 
               (2)  before the adoption of the rule, the commissioner
  provides the standing committees of the senate and house of
  representatives with primary jurisdiction over the department with
  written notice of the commissioner's intent to adopt the rule.
         (d)  Unless the legislature during the following regular
  legislative session enacts a law expressly approving or reflecting
  the substance of an interim rule adopted under Subsection (c), the
  rule is effective until the earlier of:
               (1)  the day after the date on which the session ends;
  or
               (2)  the effective date of a law that expressly
  disapproves of or supersedes the rule.
         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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