82R10239 PMO-F
By: Smithee H.B. No. 2836
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of title insurance rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2703.152, Insurance Code, is amended by
amending Subsection (b) and adding Subsection (c) to read as
follows:
(b) The commissioner may fix different rates that reflect
the geographic location of the title agent, the type of property to
be insured, the amount of business written by the title insurance
agent, and any other factors that may affect the cost of providing
title insurance.
(c) The premium rates fixed by the commissioner must be:
(1) reasonable as to the public; and
(2) nonconfiscatory as to title insurance companies
and title insurance agents.
SECTION 2. The change in law made by Section 2703.152,
Insurance Code, as amended by this Act, applies only to a rate
effective on or after January 1, 2012. A rate effective before
January 1, 2012, is governed by the law in effect immediately before
the effective date of this Act, and that law is continued in effect
for that purpose.
SECTION 3. This Act takes effect September 1, 2011.