| 1 | 1 | | 81R3683 TJS-D |
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| 2 | 2 | | By: Deuell S.B. No. 2416 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the authority of certain insurers to engage in the |
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| 8 | 8 | | business of health insurance in this state. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 982.051, Insurance Code, is amended to |
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| 11 | 11 | | read as follows: |
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| 12 | 12 | | Sec. 982.051. CERTIFICATE OF AUTHORITY REQUIRED FOR LIFE, |
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| 13 | 13 | | HEALTH, OR ACCIDENT COMPANIES. A foreign insurance company may not |
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| 14 | 14 | | engage in the business of insurance as a life insurance company, |
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| 15 | 15 | | accident insurance company, life and accident insurance company, |
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| 16 | 16 | | health and accident insurance company, or life, health, and |
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| 17 | 17 | | accident insurance company in this state, except for the lending of |
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| 18 | 18 | | money, without first obtaining from the department a certificate of |
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| 19 | 19 | | authority that: |
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| 20 | 20 | | (1) shows that the foreign insurance company has fully |
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| 21 | 21 | | complied with the laws of this state or obtained a waiver under |
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| 22 | 22 | | Section 982.113(c); and |
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| 23 | 23 | | (2) authorizes the foreign insurance company to engage |
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| 24 | 24 | | in the business of insurance in this state. |
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| 25 | 25 | | SECTION 2. Section 982.113, Insurance Code, is amended by |
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| 26 | 26 | | adding Subsections (c), (d), and (e) to read as follows: |
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| 27 | 27 | | (c) Notwithstanding the requirements of Subsections (a) and |
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| 28 | 28 | | (b), the commissioner, for a foreign insurer, shall waive any |
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| 29 | 29 | | prerequisite described by this subchapter to obtaining a |
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| 30 | 30 | | certificate of authority to engage in a type of business regulated |
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| 31 | 31 | | under Title 8, if: |
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| 32 | 32 | | (1) the foreign insurer holds a license, certificate |
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| 33 | 33 | | of authority, or similar authorization issued by another state to |
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| 34 | 34 | | engage in that same type of business; and |
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| 35 | 35 | | (2) the issuing state has licensing, certification, or |
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| 36 | 36 | | authorization requirements substantially equivalent to the |
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| 37 | 37 | | requirements of this subchapter. |
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| 38 | 38 | | (d) A certificate of authority issued under Subsection (c) |
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| 39 | 39 | | must authorize the foreign insurer to issue in this state the same |
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| 40 | 40 | | levels and types of coverage as the insurer is authorized to issue |
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| 41 | 41 | | in the state issuing the license, certificate of authority, or |
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| 42 | 42 | | other authorization that provided the basis for the waiver of |
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| 43 | 43 | | prerequisites under Subsection (c), regardless of whether those |
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| 44 | 44 | | levels or types of coverage are otherwise authorized in this state. |
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| 45 | 45 | | (e) The commissioner may adopt rules necessary to implement |
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| 46 | 46 | | this section. |
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| 47 | 47 | | SECTION 3. This Act takes effect September 1, 2009. |
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