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By: Smithee (Senate Sponsor - Kolkhorst) |
H.B. No. 1901 |
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(In the Senate - Received from the House April 17, 2023; |
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April 18, 2023, read first time and referred to Committee on |
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Business & Commerce; May 5, 2023, reported favorably by the |
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following vote: Yeas 10, Nays 0; May 5, 2023, sent to printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the filing of an annual audit report by a title |
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insurance company, title insurance agent, or direct operation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2651.151(b), Insurance Code, is amended |
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to read as follows: |
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(b) Not later than the 90th day after the date of the end of |
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the agent's or direct operation's fiscal year, the agent or direct |
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operation shall file with [send by certified mail, postage prepaid, |
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to] the department one copy of the audit report with a transmittal |
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letter. The agent shall also send a copy of the audit report and |
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transmittal letter to each title insurance company that the agent |
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represents. |
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SECTION 2. Section 2651.152(b), Insurance Code, is amended |
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to read as follows: |
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(b) Not later than the 90th day after the date of the end of |
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the title insurance company's fiscal year, the company shall file |
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with [send by certified mail, postage prepaid, to] the department |
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one copy of the audit report. |
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SECTION 3. This Act takes effect September 1, 2023. |
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* * * * * |