| 1 | | - | By: Anderson of Dallas H.B. No. 2542 |
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| 2 | | - | (Senate Sponsor - Taylor of Galveston) |
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| 3 | | - | (In the Senate - Received from the House May 15, 2017; |
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| 4 | | - | May 15, 2017, read first time and referred to Committee on Business & |
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| 5 | | - | Commerce; May 21, 2017, reported favorably by the following vote: |
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| 6 | | - | Yeas 8, Nays 0; May 21, 2017, sent to printer.) |
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| 7 | | - | Click here to see the committee vote |
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| 1 | + | H.B. No. 2542 |
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| 11 | 4 | | AN ACT |
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| 12 | 5 | | relating to notice to certain insurers by the Texas Department of |
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| 13 | 6 | | Insurance regarding supervision or conservatorship of certain |
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| 14 | 7 | | insurance agents. |
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| 15 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 16 | 9 | | SECTION 1. Section 441.201, Insurance Code, is amended by |
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| 17 | 10 | | adding Subsection (g) to read as follows: |
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| 18 | 11 | | (g) Notwithstanding Subsection (a), if the commissioner |
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| 19 | 12 | | places a title insurance agent licensed under Title 11 or an |
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| 20 | 13 | | insurance agent licensed under Title 13 under supervision or in |
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| 21 | 14 | | conservatorship, the commissioner shall provide written notice of |
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| 22 | 15 | | the order of supervision or conservatorship to each insurer for |
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| 23 | 16 | | which the agent holds an appointment under Subchapter A, Chapter |
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| 24 | 17 | | 2651, or Subchapter E, Chapter 4001, or other applicable law, on the |
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| 25 | 18 | | date the supervisor or conservator is appointed. |
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| 26 | 19 | | SECTION 2. Section 441.201(g), Insurance Code, as added by |
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| 27 | 20 | | this Act, applies to an order of supervision or conservatorship |
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| 28 | 21 | | issued under Chapter 441, Insurance Code, on or after the effective |
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| 29 | 22 | | date of this Act. An order issued before the effective date of this |
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| 30 | 23 | | Act is governed by the law as it existed immediately before the |
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| 31 | 24 | | effective date of this Act, and that law is continued in effect for |
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| 32 | 25 | | that purpose. |
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| 33 | 26 | | SECTION 3. This Act takes effect September 1, 2017. |
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| 34 | | - | * * * * * |
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| 27 | + | ______________________________ ______________________________ |
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| 28 | + | President of the Senate Speaker of the House |
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| 29 | + | I certify that H.B. No. 2542 was passed by the House on May |
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| 30 | + | 12, 2017, by the following vote: Yeas 143, Nays 0, 1 present, not |
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| 31 | + | voting. |
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| 32 | + | ______________________________ |
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| 33 | + | Chief Clerk of the House |
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| 34 | + | I certify that H.B. No. 2542 was passed by the Senate on May |
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| 35 | + | 24, 2017, by the following vote: Yeas 31, Nays 0. |
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| 36 | + | ______________________________ |
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| 37 | + | Secretary of the Senate |
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| 38 | + | APPROVED: _____________________ |
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| 39 | + | Date |
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| 40 | + | _____________________ |
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| 41 | + | Governor |
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