By: Lucio III (Senate Sponsor - Creighton) | H.B. No. 1940 | |
(In the Senate - Received from the House April 15, 2019; | ||
April 16, 2019, read first time and referred to Committee on | ||
Business & Commerce; May 2, 2019, reported favorably by the | ||
following vote: Yeas 8, Nays 0; May 2, 2019, sent to printer.) | ||
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relating to eligibility of surplus lines insurers to provide | ||
windstorm and hail coverage. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 981.004, Insurance Code, is amended by | ||
adding Subsection (e) to read as follows: | ||
(e) Notwithstanding Subsection (a)(1), the availability of | ||
windstorm and hail insurance from the Texas Windstorm Insurance | ||
Association does not preclude an eligible surplus lines insurer | ||
from providing windstorm and hail insurance under Subsection (a) or | ||
limiting the amount of insurance that may be provided under | ||
Subsection (b). | ||
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, 2019. | ||
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