| 1 | 1 | | 85R6091 MEW-F |
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| 2 | 2 | | By: Paul H.B. No. 2665 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to notification by an insurer of certain disciplinary |
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| 8 | 8 | | actions imposed on the insurer for a violation of the insurance laws |
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| 9 | 9 | | of another state. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 81.003(b), Insurance Code, is amended to |
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| 12 | 12 | | read as follows: |
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| 13 | 13 | | (b) An insurer shall notify the commissioner and shall |
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| 14 | 14 | | deliver a copy of any applicable order or judgment to the |
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| 15 | 15 | | commissioner not later than the 30th day after the date of the: |
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| 16 | 16 | | (1) suspension or revocation of the insurer's right to |
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| 17 | 17 | | transact business in another state; or |
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| 18 | 18 | | (2) receipt of an order to show cause why the insurer's |
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| 19 | 19 | | license in another state should not be suspended or revoked[; or |
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| 20 | 20 | | [(3) imposition of a penalty, forfeiture, or sanction |
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| 21 | 21 | | on the insurer for a violation of the insurance laws of another |
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| 22 | 22 | | state]. |
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| 23 | 23 | | SECTION 2. This Act takes effect September 1, 2017. |
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