By: Anderson of Dallas H.B. No. 2542
(Senate Sponsor - Taylor of Galveston)
(In the Senate - Received from the House May 15, 2017;
May 15, 2017, read first time and referred to Committee on Business &
Commerce; May 21, 2017, reported favorably by the following vote:
Yeas 8, Nays 0; May 21, 2017, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to notice to certain insurers by the Texas Department of
Insurance regarding supervision or conservatorship of certain
insurance agents.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 441.201, Insurance Code, is amended by
adding Subsection (g) to read as follows:
(g) Notwithstanding Subsection (a), if the commissioner
places a title insurance agent licensed under Title 11 or an
insurance agent licensed under Title 13 under supervision or in
conservatorship, the commissioner shall provide written notice of
the order of supervision or conservatorship to each insurer for
which the agent holds an appointment under Subchapter A, Chapter
2651, or Subchapter E, Chapter 4001, or other applicable law, on the
date the supervisor or conservator is appointed.
SECTION 2. Section 441.201(g), Insurance Code, as added by
this Act, applies to an order of supervision or conservatorship
issued under Chapter 441, Insurance Code, on or after the effective
date of this Act. An order issued before the effective date of this
Act 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 3. This Act takes effect September 1, 2017.
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