| |
| |
| |
|
|
AN ACT
|
|
|
relating to the use of installment premium payment plans on Texas |
|
|
Windstorm Insurance Association policies. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 2210.2032, Insurance Code, is amended by |
|
|
adding Subsection (c) to read as follows: |
|
|
(c) Due to the availability of multiple installment payment |
|
|
plans directly through the association at no additional cost to the |
|
|
insured, the use of premium financing arrangements is prohibited. |
|
|
SECTION 2. The changes in law made by this Act apply to |
|
|
policies issued and renewed on or after January 1, 2026. |
|
|
SECTION 3. This Act takes effect September 1, 2025. |
| |
| |
| |
______________________________ |
______________________________ |
| |
President of the Senate |
Speaker of the House |
| |
| |
|
|
I certify that H.B. No. 2518 was passed by the House on May 2, |
|
|
2025, by the following vote: Yeas 120, Nays 15, 1 present, not |
|
|
voting. |
|
|
|
|
|
______________________________ |
|
|
Chief Clerk of the House |
| |
| |
|
|
I certify that H.B. No. 2518 was passed by the Senate on May |
|
|
25, 2025, by the following vote: Yeas 28, Nays 2, 1 present, not |
|
|
voting. |
|
|
|
|
|
______________________________ |
|
|
Secretary of the Senate |
|
|
APPROVED: _____________________ |
|
|
Date |
|
|
|
|
|
_____________________ |
|
|
Governor |