Texas 2011 - 82nd Regular

Texas Senate Bill SB1229 Compare Versions

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1	1	By: Eltife S.B. No. 1229
2	2	(Eiland)
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the registration with the Texas Department of Insurance
8	8	of certain contract examiners.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 401.107, Insurance Code, is amended by
11	11	amending Subsection (a) and adding Subsection (a-1) to read as
12	12	follows:
13	13	(a) A person with whom another state contracts to perform
14	14	any examination initiated by the other state of an insurer
15	15	domiciled in this state shall register with and provide the
16	16	following information to the department's chief examiner:
17	17	(1) the person's name;
18	18	(2) if the person is not an individual, the identity of
19	19	each examiner or other person who will perform any part of the
20	20	examination;
21	21	(3) the name of the state that contracted with the
22	22	person;
23	23	(4) the identity of the insurer to be examined; [and]
24	24	(5) a description of each issue that the person has
25	25	been contracted to examine;
26	26	(6) an estimate of the examination costs to be charged
27	27	to the insurer to be examined;
28	28	(7) a copy of any contract between the person and the
29	29	state regulatory body that initiated the examination and a letter
30	30	authorizing the examination; and
31	31	(8) a list of the previous examinations conducted on
32	32	the same insurer on behalf of any state within the last three years.
33	33	(a-1) On accepting a person's registration under Subsection
34	34	(a), the department shall send written confirmation of the
35	35	acceptance to:
36	36	(1) the person;
37	37	(2) the insurer to be examined; and
38	38	(3) the state regulatory body that initiated the
39	39	examination.
40	40	SECTION 2. Section 751.052, Insurance Code, is amended by
41	41	amending Subsection (b) and adding Subsection (b-1) to read as
42	42	follows:
43	43	(b) A person with whom another state contracts to perform
44	44	any market analysis or examination initiated by the other state of
45	45	an insurer domiciled in this state shall register with and provide
46	46	the following information to the department's chief examiner:
47	47	(1) the person's name;
48	48	(2) if the person is not an individual, the identity of
49	49	each examiner or other person who will perform any part of the
50	50	market analysis or examination;
51	51	(3) the name of the state that contracted with the
52	52	person;
53	53	(4) the identity of the insurer to be examined; [and]
54	54	(5) a description of each issue that the person has
55	55	been contracted to examine;
56	56	(6) an estimate of the examination costs to be charged
57	57	to the insurer to be examined;
58	58	(7) a copy of any contract between the person and the
59	59	state regulatory body that initiated the examination and the letter
60	60	authorizing the examination; and
61	61	(8) a list of the previous examinations conducted on
62	62	the same insurer on behalf of any state within the last three years.
63	63	(b-1) On accepting a person's registration under Subsection
64	64	(b), the department shall send written confirmation of the
65	65	acceptance to:
66	66	(1) the person;
67	67	(2) the insurer to be examined; and
68	68	(3) the state regulatory body that initiated the
69	69	examination.
70	70	SECTION 3. Section 4053.107, Insurance Code, is amended by
71	71	amending Subsection (d) and adding Subsection (d-1) to read as
72	72	follows:
73	73	(d) A person with whom another state contracts to perform
74	74	any examination initiated by the other state of a managing general
75	75	agent licensed under this chapter shall register with and provide
76	76	the following information to the department's chief examiner:
77	77	(1) the person's name;
78	78	(2) if the person is not an individual, the identity of
79	79	each examiner or other person who will perform any part of the
80	80	examination;
81	81	(3) the name of the state that contracted with the
82	82	person;
83	83	(4) the identity of the managing general agent to be
84	84	examined; [and]
85	85	(5) a description of each issue that the person has
86	86	been contracted to examine;
87	87	(6) an estimate of the examination costs to be charged
88	88	to the managing general agent to be examined;
89	89	(7) a copy of any contract between the person and the
90	90	state regulatory body that initiated the examination and the letter
91	91	authorizing the examination; and
92	92	(8) a list of the previous examinations conducted on
93	93	the same managing general agent on behalf of any state within the
94	94	last three years.
95	95	(d-1) On accepting a person's registration under Subsection
96	96	(d), the department shall send written confirmation of the
97	97	acceptance to:
98	98	(1) the person;
99	99	(2) the managing general agent to be examined; and
100	100	(3) the state regulatory body that initiated the
101	101	examination.
102	102	SECTION 4. The changes in law made by this Act to Sections
103	103	401.107, 751.052, and 4053.107, Insurance Code, apply only to an
104	104	examination commencing on or after September 1, 2011. An
105	105	examination commencing before September 1, 2011, is subject to the
106	106	law in effect on the date the examination was commenced, and that
107	107	law is continued in effect for that purpose.
108	108	SECTION 5. This Act takes effect immediately if it receives
109	109	a vote of two-thirds of all the members elected to each house, as
110	110	provided by Section 39, Article III, Texas Constitution. If this
111	111	Act does not receive the vote necessary for immediate effect, this
112	112	Act takes effect September 1, 2011.