By: Bonnen of Brazoria H.B. No. 3008
A BILL TO BE ENTITLED
AN ACT
relating to the use of assets of the Texas Windstorm Insurance
Association.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sec. 2210.008. DEPARTMENT ORDERS; GENERAL
RULEMAKING AUTHORITY. (a) The commissioner may issue any orders
that the commissioner considers necessary to implement this chapter
including:
(1) an order enforcing the requirement for the
Association to limit the use of each calendar year's premium and
other revenue to losses, including loss adjustment expenses, and
operating expenses incurred during that calendar year; or
(2) an order requiring the Association to transfer
that calendar year's premium and other revenue in excess of the
calendar year's losses, including loss adjustment expenses, and
operating expenses to the fund established under Sec. 2210.452.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2013.