81R3683 TJS-D
By: Deuell S.B. No. 2416
A BILL TO BE ENTITLED
AN ACT
relating to the authority of certain insurers to engage in the
business of health insurance in this state.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 982.051, Insurance Code, is amended to
read as follows:
Sec. 982.051. CERTIFICATE OF AUTHORITY REQUIRED FOR LIFE,
HEALTH, OR ACCIDENT COMPANIES. A foreign insurance company may not
engage in the business of insurance as a life insurance company,
accident insurance company, life and accident insurance company,
health and accident insurance company, or life, health, and
accident insurance company in this state, except for the lending of
money, without first obtaining from the department a certificate of
authority that:
(1) shows that the foreign insurance company has fully
complied with the laws of this state or obtained a waiver under
Section 982.113(c); and
(2) authorizes the foreign insurance company to engage
in the business of insurance in this state.
SECTION 2. Section 982.113, Insurance Code, is amended by
adding Subsections (c), (d), and (e) to read as follows:
(c) Notwithstanding the requirements of Subsections (a) and
(b), the commissioner, for a foreign insurer, shall waive any
prerequisite described by this subchapter to obtaining a
certificate of authority to engage in a type of business regulated
under Title 8, if:
(1) the foreign insurer holds a license, certificate
of authority, or similar authorization issued by another state to
engage in that same type of business; and
(2) the issuing state has licensing, certification, or
authorization requirements substantially equivalent to the
requirements of this subchapter.
(d) A certificate of authority issued under Subsection (c)
must authorize the foreign insurer to issue in this state the same
levels and types of coverage as the insurer is authorized to issue
in the state issuing the license, certificate of authority, or
other authorization that provided the basis for the waiver of
prerequisites under Subsection (c), regardless of whether those
levels or types of coverage are otherwise authorized in this state.
(e) The commissioner may adopt rules necessary to implement
this section.
SECTION 3. This Act takes effect September 1, 2009.