Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB1954 by Hancock (Relating to the pledge or encumbrance of an insurer's assets under the Asset Protection Act.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the pledge or encumbrance of an insurer's assets under the Asset Protection Act. Based on information provided by the Texas Department of Insurance, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.