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A BILL TO BE ENTITLED
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AN ACT
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relating to annual statistical reports for and the adoption of |
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title insurance premium rates. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2703.153, Insurance Code, is amended by |
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adding Subsections (a-1) and (c-1) to read as follows: |
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(a-1) Not later than May 15th of each year, the department |
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shall issue a call to each title agent and not later than July 16th |
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to each title company engaged in the business of title insurance for |
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the statistical report data required under Subsection (a). |
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(c-1) Not later than September 1 of each year, the |
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department shall publish on the department's Internet website a |
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compilation report summarizing the statistical reports submitted |
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under Subsection (a). |
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SECTION 2. Any rate ordered or adopted under this Title that |
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is not in effect before June 2, 2025, shall not become effective. |
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Any new rate ordered by the department under this Title shall comply |
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with the changes in law made by this Act. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected in each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act take effect September 1, 2025 |