Texas 2015 - 84th Regular

Texas Senate Bill SB690 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	2015S0301-1 02/20/15
2	2	By: Taylor of Galveston S.B. No. 690
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the applicability of certain insurance laws to certain
8	8	farm mutual insurance companies.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 221.001(b), Insurance Code, is amended
11	11	to read as follows:
12	12	(b) This chapter does not apply to:
13	13	(1) a fraternal benefit society, including a fraternal
14	14	benefit society operating under Chapter 885;
15	15	(2) a group hospital service corporation operating
16	16	under Chapter 842;
17	17	(3) a stipulated premium company operating under
18	18	Chapter 884;
19	19	(4) a mutual assessment association, company, or
20	20	corporation regulated under Chapter 887; [or]
21	21	(5) a purely cooperative or mutual fire insurance
22	22	company carried on by its members solely for the protection of their
23	23	own property and not for profit, except as provided by Section
24	24	221.002(b)(13); or
25	25	(6) a farm mutual insurance company operating under
26	26	Chapter 911, unless the company:
27	27	(A) insures property in more than five counties
28	28	in this state;
29	29	(B) has gross annual premium receipts greater
30	30	than $10 million; or
31	31	(C) is a member of an insurance group that
32	32	includes insurance companies writing lines of insurance other than
33	33	those a farm mutual insurance company is authorized to write under
34	34	Section 911.151.
35	35	SECTION 2. Section 252.005, Insurance Code, is amended to
36	36	read as follows:
37	37	Sec. 252.005. EXCEPTION. This chapter does not apply to:
38	38	(1) a farm mutual insurance company operating under
39	39	Chapter 911, unless the company:
40	40	(A) insures property in more than five counties
41	41	in this state;
42	42	(B) has gross annual premium receipts greater
43	43	than $10 million; or
44	44	(C) is a member of an insurance group that
45	45	includes insurance companies writing lines of insurance other than
46	46	those a farm mutual insurance company is authorized to write under
47	47	Section 911.151; or
48	48	(2) a mutual insurance company engaged in business
49	49	under Chapter 12, Title 78, Revised Statutes, before that chapter's
50	50	repeal by Section 18, Chapter 40, Acts of the 41st Legislature, 1st
51	51	Called Session, 1929, as amended by Section 1, Chapter 60, General
52	52	Laws, Acts of the 41st Legislature, 2nd Called Session, 1929, that
53	53	retains the rights and privileges under the repealed law to the
54	54	extent provided by those sections.
55	55	SECTION 3. Section 2210.006(b), Insurance Code, is amended
56	56	to read as follows:
57	57	(b) This chapter does not apply to:
58	58	(1) a farm mutual insurance company operating under
59	59	Chapter 911, unless the company:
60	60	(A) insures property in more than five counties
61	61	in this state;
62	62	(B) has gross annual premium receipts greater
63	63	than $10 million; or
64	64	(C) is a member of an insurance group that
65	65	includes insurance companies writing lines of insurance other than
66	66	those a farm mutual insurance company is authorized to write under
67	67	Section 911.151;
68	68	(2) a nonaffiliated county mutual fire insurance
69	69	company described by Section 912.310 that is writing exclusively
70	70	industrial fire insurance policies as described by Section
71	71	912.310(a)(2); or
72	72	(3) a mutual insurance company or a statewide mutual
73	73	assessment company engaged in business under Chapter 12 or 13,
74	74	Title 78, Revised Statutes, respectively, before those chapters'
75	75	repeal by Section 18, Chapter 40, Acts of the 41st Legislature, 1st
76	76	Called Session, 1929, as amended by Section 1, Chapter 60, General
77	77	Laws, Acts of the 41st Legislature, 2nd Called Session, 1929, that
78	78	retains the rights and privileges under the repealed law to the
79	79	extent provided by those sections.
80	80	SECTION 4. (a) Sections 221.001(b) and 252.005, Insurance
81	81	Code, as amended by this Act, do not affect tax liability accruing
82	82	before the 2015 calendar year. That liability continues in effect
83	83	as if this Act had not been enacted, and the former law is continued
84	84	in effect for the collection of taxes due and for civil and criminal
85	85	enforcement of the liability for those taxes.
86	86	(b) Section 2210.006(b), Insurance Code, as amended by this
87	87	Act, applies only to participation in the Texas Windstorm Insurance
88	88	Association on or after the effective date of this Act, including
89	89	the payment of assessments the liability for which accrues on or
90	90	after that date. Participation in the Texas Windstorm Insurance
91	91	Association before the effective date of this Act, including the
92	92	payment of assessments the liability for which accrued before that
93	93	date, is governed by the law as it existed immediately before that
94	94	date, and that law is continued in effect for that purpose.
95	95	SECTION 5. This Act takes effect immediately if it receives
96	96	a vote of two-thirds of all the members elected to each house, as
97	97	provided by Section 39, Article III, Texas Constitution. If this
98	98	Act does not receive the vote necessary for immediate effect, this
99	99	Act takes effect September 1, 2015.