| 5 | 3 | | |
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| 6 | 4 | | |
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| 7 | 5 | | A BILL TO BE ENTITLED |
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| 8 | 6 | | AN ACT |
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| 9 | 7 | | relating to the provision of certain information or assistance by |
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| 10 | 8 | | life insurance agents to owners of life insurance policies. |
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| 11 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 10 | | SECTION 1. Chapter 1101, Insurance Code, is amended by |
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| 13 | 11 | | adding Subchapter E to read as follows: |
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| 14 | 12 | | SUBCHAPTER E. AGENT COMMUNICATIONS |
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| 15 | 13 | | Sec. 1101.201. APPLICABILITY OF SUBCHAPTER. This |
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| 16 | 14 | | subchapter applies with respect to a life insurance policy owned by |
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| 17 | 15 | | an individual who is a resident of this state regardless of the |
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| 18 | 16 | | place the policy is issued, delivered, or renewed. |
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| 19 | 17 | | Sec. 1101.202. PROTECTED COMMUNICATIONS. A life insurance |
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| 20 | 18 | | company that issues or provides coverage under an individual life |
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| 21 | 19 | | insurance policy may not terminate, fine, or otherwise penalize an |
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| 22 | 20 | | insurance agent who is the agent of record for the policy or who has |
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| 23 | 21 | | a business relationship with the policy owner for: |
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| 24 | 22 | | (1) informing the policy owner or the policy owner's |
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| 25 | 23 | | designee about options available under the policy terms with |
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| 26 | 24 | | respect to the lapse or surrender of the policy; or |
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| 27 | 25 | | (2) assisting the policy owner with securing benefits |
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| 28 | 26 | | under the terms of the policy. |
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| 29 | 27 | | SECTION 2. This Act takes effect September 1, 2017. |
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