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AN ACT
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relating to arbitration provisions in surplus lines insurance |
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contracts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 981.101, Insurance Code, is amended by |
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adding Subsection (d) to read as follows: |
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(d) An arbitration under a surplus lines insurance contract |
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that is related to a risk located entirely in this state must be |
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conducted in this state, and the insurance contract, including the |
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arbitration agreement, must be interpreted in accordance with the |
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laws of this state. This subsection may not be construed as a |
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defense to the enforcement of: |
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(1) an arbitration agreement that complies with or has |
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been reformed to comply with this subsection; or |
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(2) an award made under an agreement described by |
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Subdivision (1). |
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SECTION 2. Section 981.101(d), Insurance Code, as added by |
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this Act, applies only to an arbitration commenced on or after the |
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effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2023. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 796 passed the Senate on |
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March 30, 2023, by the following vote: Yeas 31, Nays 0; and that |
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the Senate concurred in House amendments on May 25, 2023, by the |
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following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 796 passed the House, with |
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amendments, on May 19, 2023, by the following vote: Yeas 136, |
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Nays 3, two present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |