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By: Barry, et al. |
H.B. No. 2518 |
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(Senate Sponsor - Hinojosa of Nueces) |
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(In the Senate - Received from the House May 5, 2025; |
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May 5, 2025, read first time and referred to Committee on Business & |
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Commerce; May 20, 2025, reported favorably by the following vote: |
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Yeas 11, Nays 0; May 20, 2025, 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 use of installment premium payment plans on Texas |
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Windstorm Insurance Association policies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2210.2032, Insurance Code, is amended by |
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adding Subsection (c) to read as follows: |
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(c) Due to the availability of multiple installment payment |
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plans directly through the association at no additional cost to the |
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insured, the use of premium financing arrangements is prohibited. |
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SECTION 2. The changes in law made by this Act apply to |
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policies issued and renewed on or after January 1, 2026. |
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SECTION 3. This Act takes effect September 1, 2025. |
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