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A BILL TO BE ENTITLED
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AN ACT
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relating to an annual premium limit for automobile liability |
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insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 1953, Insurance Code, is |
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amended by adding Section 1953.053 to read as follows: |
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Sec. 1953.053. ANNUAL PREMIUM LIMIT FOR LIABILITY COVERAGE. |
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An insurer described by Section 1952.001 or a county mutual |
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insurance company may not charge an insured an annual premium for |
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the liability portion of an automobile insurance policy that |
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exceeds the total loss value of the covered vehicle or vehicles. |
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SECTION 2. Section 1953.053, Insurance Code, as added by |
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this Act, applies only to an insurance policy delivered, issued for |
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delivery, or renewed on or after January 1, 2028. |
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SECTION 3. This Act takes effect September 1, 2027. |