Texas 2011 - 82nd Regular

Texas Senate Bill SB95 Compare Versions

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Old	New	Differences
1	1	By: Lucio S.B. No. 95
2	2	(In the Senate - Filed November 8, 2010; January 31, 2011,
3	3	read first time and referred to Committee on Business and Commerce;
4	4	April 11, 2011, reported adversely, with favorable Committee
5	5	Substitute by the following vote: Yeas 6, Nays 0; April 11, 2011,
6	6	sent to printer.)
7	7	COMMITTEE SUBSTITUTE FOR S.B. No. 95 By: Lucio
8	8
9	9
10	10	A BILL TO BE ENTITLED
11	11	AN ACT
12	12	relating to the use by insurers of certain standard insurance
13	13	policy forms for residential property insurance.
14	14	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
15	15	SECTION 1. Section 2301.008, Insurance Code, is amended to
16	16	read as follows:
17	17	Sec. 2301.008. ADOPTION AND USE OF STANDARD FORMS.
18	18	(a) The commissioner may adopt standard insurance policy forms,
19	19	printed endorsement forms, and forms related to [forms other than]
20	20	insurance policy forms and printed endorsement forms, that an
21	21	insurer may use instead of the insurer's own forms in writing
22	22	insurance subject to this subchapter.
23	23	(b) The commissioner shall adopt a standard declarations
24	24	page for use with residential property forms subject to this
25	25	subchapter. An insurer may use the declarations page adopted by the
26	26	commissioner under this section instead of the insurer's own
27	27	declarations page. A declarations page adopted under this
28	28	subchapter must:
29	29	(1) list and explain each type of deductible
30	30	applicable to the form; and
31	31	(2) list the exact dollar amount of each deductible
32	32	applicable to the form.
33	33	SECTION 2. Section 2301.053, Insurance Code, is amended by
34	34	adding Subsection (b) to read as follows:
35	35	(e) A residential property form may not be used unless the
36	36	declarations page:
37	37	(1) lists and explains each type of deductible
38	38	applicable to the form; and
39	39	(2) lists the exact dollar amount of each deductible
40	40	applicable to the form.
41	41	SECTION 3. This Act applies only to an insurance policy
42	42	delivered, issued for delivery, or renewed on or after January 1,
43	43	2012. A policy delivered, issued for delivery, or renewed before
44	44	January 1, 2012, is governed by the law as it existed immediately
45	45	before the effective date of this Act, and that law is continued in
46	46	effect for that purpose.
47	47	SECTION 4. This Act takes effect September 1, 2011.
48	48	* * * * *