Texas 2009 - 81st Regular

Texas Senate Bill SB698 Compare Versions

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Old	New	Differences
1	1	S.B. No. 698
2	2
3	3
4	4	AN ACT
5	5	relating to the establishment of a registry at the Texas Department
6	6	of Insurance of certain legal entities alleged to have sold
7	7	race-based insurance coverage.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Chapter 521, Insurance Code, is amended by
10	10	adding Subchapter D to read as follows:
11	11	SUBCHAPTER D. RACE-BASED INSURANCE REGISTRY
12	12	Sec. 521.151. APPLICABILITY OF SUBCHAPTER. This subchapter
13	13	applies to any legal entity engaged in the business of insurance in
14	14	this state, including:
15	15	(1) a capital stock insurance company;
16	16	(2) a mutual insurance company;
17	17	(3) a title insurance company;
18	18	(4) a fraternal benefit society;
19	19	(5) a local mutual aid association;
20	20	(6) a statewide mutual assessment company;
21	21	(7) a county mutual insurance company;
22	22	(8) a Lloyd's plan;
23	23	(9) a reciprocal or interinsurance exchange;
24	24	(10) a stipulated premium company;
25	25	(11) a group hospital service corporation;
26	26	(12) a farm mutual insurance company;
27	27	(13) a risk retention group;
28	28	(14) an eligible surplus lines insurer; and
29	29	(15) an agent, broker, adjuster, or life and health
30	30	insurance counselor.
31	31	Sec. 521.152. REGISTRY; INTERNET POSTING. (a) The
32	32	commissioner shall establish a registry of each legal entity
33	33	engaged in the business of insurance in this state that, formally or
34	34	informally, has entered into an agreement with the department:
35	35	(1) that disposes of allegations of race-based
36	36	pricing; and
37	37	(2) under which all or part of the relief agreed on to
38	38	make insureds whole includes a claims-made offer that remains in
39	39	place and has not otherwise expired under the terms of the
40	40	agreement.
41	41	(b) The registry must be prominently published on the
42	42	department's Internet website, and must:
43	43	(1) identify:
44	44	(A) each insurance company that has entered into
45	45	an agreement described by Subsection (a); and
46	46	(B) the eligibility and terms of the insurance
47	47	company's claims-made offer; and
48	48	(2) include:
49	49	(A) a claim form; and
50	50	(B) links to the Internet website of the
51	51	insurance company that is administrating the claims-made offer.
52	52	Sec. 521.153. PRESERVATION OF CERTAIN RECORDS REGARDING
53	53	RACE-BASED PRICING. (a) Notwithstanding Chapter 441, Government
54	54	Code, the department shall preserve all examinations, exhibits to
55	55	examinations, and other relevant documents regarding race-based
56	56	pricing that the department has gathered or created with respect to
57	57	a race-based pricing investigation that is completed or ongoing on
58	58	September 1, 2009, other than those for which an attorney-client or
59	59	attorney work product privilege can be claimed, until the time that
60	60	those documents are eligible for delivery under Subsection (b).
61	61	(b) On the completion of the department's race-based
62	62	pricing investigation, but not later than January 15, 2011, the
63	63	department shall deliver the records identified under Subsection
64	64	(a) or copies of those records to the state archivist.
65	65	(c) The state archives shall:
66	66	(1) using best efforts, preserve and catalogue the
67	67	records identified under Subsection (a); and
68	68	(2) make the records available to the public as soon as
69	69	appropriate, but not later than January 15, 2015.
70	70	SECTION 2. The commissioner of insurance shall establish
71	71	the registry as required by Subchapter D, Chapter 521, Insurance
72	72	Code, as added by this Act, not later than January 1, 2010.
73	73	SECTION 3. This Act takes effect September 1, 2009.
74	74	______________________________ ______________________________
75	75	President of the Senate Speaker of the House
76	76	I hereby certify that S.B. No. 698 passed the Senate on
77	77	April 2, 2009, by the following vote: Yeas 31, Nays 0; and that
78	78	the Senate concurred in House amendments on May 28, 2009, by the
79	79	following vote: Yeas 31, Nays 0.
80	80	______________________________
81	81	Secretary of the Senate
82	82	I hereby certify that S.B. No. 698 passed the House, with
83	83	amendments, on May 26, 2009, by the following vote: Yeas 138,
84	84	Nays 8, one present not voting.
85	85	______________________________
86	86	Chief Clerk of the House
87	87	Approved:
88	88	______________________________
89	89	Date
90	90	______________________________
91	91	Governor