H.B. No. 2542
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.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2542 was passed by the House on May
12, 2017, by the following vote: Yeas 143, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2542 was passed by the Senate on May
24, 2017, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor