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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of entities regulated by the Texas |
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Department of Insurance to conduct business electronically. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 35.003, Insurance Code, is amended to |
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read as follows: |
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Sec. 35.003. ELECTRONIC TRANSACTIONS AUTHORIZED. A |
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regulated entity may conduct business electronically to the same |
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extent that the entity is authorized to conduct business otherwise |
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unless [if] before the conduct of business each party to the |
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business agrees to conduct the business with written physical |
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documents [electronically]. |
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SECTION 2. Section 35.003, Insurance Code, as amended by |
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this Act, applies only to business conducted on or after the |
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effective date of this Act. Business conducted before the effective |
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date of this Act is governed by the law in effect on the date the |
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business was conducted, and that law is continued in effect for that |
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purpose. |
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SECTION 3. This Act takes effect September 1, 2021. |