83R10164 MEW-D
By: Davis S.B. No. 979
A BILL TO BE ENTITLED
AN ACT
relating to the determination by a motor vehicle insurer of the
value of a vehicle declared a total loss.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1952.001, Insurance Code, is amended to
read as follows:
Sec. 1952.001. APPLICABILITY OF CHAPTER. Except as
otherwise provided by this chapter [provided by Section 1952.201],
this chapter applies to an insurer writing automobile insurance in
this state, including an insurance company, corporation,
reciprocal or interinsurance exchange, mutual insurance company,
association, Lloyd's plan, or other insurer.
SECTION 2. Chapter 1952, Insurance Code, is amended by
adding Subchapter H to read as follows:
SUBCHAPTER H. PAYMENT OF DAMAGES FOR MOTOR VEHICLE LOSSES
Sec. 1952.351. APPLICABILITY OF SUBCHAPTER. This
subchapter applies to an insurer writing automobile insurance in
this state, including an insurance company, reciprocal or
interinsurance exchange, mutual insurance company, capital stock
company, county mutual insurance company, Lloyd's plan, or other
entity.
Sec. 1952.352. DETERMINATION OF VALUE. (a) An insurer that
pays damages for a motor vehicle that has been declared a total loss
shall determine the value of the motor vehicle at the time of loss
using a version of a compilation approved by the public counsel of
the office of public insurance counsel under Subsection (b).
(b) The public counsel of the office of public insurance
counsel by rule shall approve a list of nationally recognized
compilations, including electronic databases, that present fair
and representative retail values of motor vehicles in this state.
SECTION 3. Section 1952.352, Insurance Code, as added by
this Act, applies only to an insurance policy that is delivered,
issued for delivery, or renewed on or after January 1, 2014. A
policy delivered, issued for delivery, or renewed before January 1,
2014, is governed by the law as it existed immediately before the
effective date of this Act, and that law is continued in effect for
that purpose.
SECTION 4. This Act takes effect September 1, 2013.