LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 8, 2009 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1812 by Duncan (Relating to notice to a life insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), Committee Report 2nd House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code regarding a notice to an insurer of an adverse claim to policy proceeds. Based on the analysis by the Texas Department of Insurance, any costs associated with the implementation of this bill could be absorbed within existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: JOB, KJG, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
May 8, 2009
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1812 by Duncan (Relating to notice to a life insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), Committee Report 2nd House, Substituted
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1812 by Duncan (Relating to notice to a life insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), Committee Report 2nd House, Substituted
Honorable John T. Smithee, Chair, House Committee on Insurance
Honorable John T. Smithee, Chair, House Committee on Insurance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1812 by Duncan (Relating to notice to a life insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), Committee Report 2nd House, Substituted
SB1812 by Duncan (Relating to notice to a life insurer of an adverse claim to policy proceeds by a person with a bona fide legal claim.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code regarding a notice to an insurer of an adverse claim to policy proceeds. Based on the analysis by the Texas Department of Insurance, any costs associated with the implementation of this bill could be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 454 Department of Insurance
454 Department of Insurance
LBB Staff: JOB, KJG, CH
JOB, KJG, CH