83R6750 SCL-F
By: Carona S.B. No. 697
A BILL TO BE ENTITLED
AN ACT
relating to the qualifications of certain nonresident individuals
to hold a surplus lines agent license.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 981.203, Insurance Code, is amended by
adding Subsection (a-1) to read as follows:
(a-1) Notwithstanding Subsection (a)(1)(B), an individual
is not required to obtain a general property and casualty or a
managing general agent license to hold a surplus lines agent
license if:
(1) the individual is a nonresident of this state;
(2) the individual is licensed as a surplus lines
agent in the individual's state of residence;
(3) the individual is not required by the individual's
state of residence to hold a general property and casualty license
to become licensed as a surplus lines agent;
(4) the individual has provided information
acceptable to the commissioner that the individual's state of
residence does not require a property and casualty agent license
for a surplus lines agent license;
(5) the individual's state of residence does not
require a surplus lines agent to search for the availability of
insurance in the individual's state of residence before the
insurance is placed through a surplus lines agent;
(6) the individual's state of residence allows a
licensed general property and casualty agent to search for the
availability of insurance in the individual's state of residence;
and
(7) the individual has a professional relationship
with a person who:
(A) is a licensed general property and casualty
agent; and
(B) searches for the availability of insurance in
this state before the insurance is placed through a surplus lines
agent.
SECTION 2. The change in law made by this Act applies to a
license application submitted on or after the effective date of
this Act. A license application submitted before the effective
date of this Act 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, 2013.