By: Seliger S.B. No. 1227
(In the Senate - Filed March 11, 2015; March 17, 2015, read
first time and referred to Committee on Business and Commerce;
May 13, 2015, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 7, Nays 0; May 13, 2015,
sent to printer.)
Click here to see the committee vote
COMMITTEE SUBSTITUTE FOR S.B. No. 1227 By: Watson
A BILL TO BE ENTITLED
AN ACT
relating to payment of covered claims based on assignment.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 462.202, Insurance Code, is amended by
adding Subsection (c) to read as follows:
(c) A person has a covered claim under this chapter if the
person holds a valid assignment of a covered claim for unearned
premiums under Subsections (a) and (b).
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, 2015.
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