S.B. No. 1812
AN ACT
relating to notice to a life insurer of an adverse claim to policy
proceeds by a person with a bona fide legal claim.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 542.058, Insurance Code, is amended by
amending Subsection (b) and adding Subsection (c) to read as
follows:
(b) Subsection (a) [This section] does not apply in a case
in which it is found as a result of arbitration or litigation that a
claim received by an insurer is invalid and should not be paid by
the insurer.
(c) A life insurer that receives notice of an adverse, bona
fide claim to all or part of the proceeds of the policy before the
applicable payment deadline under Subsection (a) shall pay the
claim or properly file an interpleader action and tender the
benefits into the registry of the court not later than the 90th day
after the date the insurer receives all items, statements, and
forms reasonably requested and required under Section 542.055. A
life insurer that delays payment of the claim or the filing of an
interpleader and tender of policy proceeds for more than 90 days
shall pay damages and other items as provided by Section 542.060
until the claim is paid or an interpleader is properly filed.
SECTION 2. The change in law made by this Act applies only
to a claim filed with a life insurer on or after the effective date
of this Act. A claim filed with a life insurer before that date is
governed by the law in effect on the date that the claim was filed,
and the former law is continued in effect for that purpose.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 1812 passed the Senate on
April 30, 2009, by the following vote: Yeas 31, Nays 0; and that
the Senate concurred in House amendment on May 29, 2009, by the
following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 1812 passed the House, with
amendment, on May 26, 2009, by the following vote: Yeas 140,
Nays 3, two present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor