85R9839 BEE-F
By: Anchia H.B. No. 3450
A BILL TO BE ENTITLED
AN ACT
relating to the insurance requirement applicable to a guard company
license.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1702.124, Occupations Code, is amended
by amending Subsection (c) and adding Subsection (c-1) to read as
follows:
(c) Except as provided by Subsection (c-1), the [The]
insurance policy must contain minimum limits of:
(1) $100,000 for each occurrence for bodily injury and
property damage;
(2) $50,000 for each occurrence for personal injury;
and
(3) a total aggregate amount of $200,000 for all
occurrences.
(c-1) If the application is for a license to act as a guard
company, the insurance policy must contain minimum limits of:
(1) $1 million for each occurrence for bodily injury
and property damage;
(2) $1 million for each occurrence for personal
injury; and
(3) a total aggregate amount of $2 million for all
occurrences.
SECTION 2. The change in law made by this Act applies only
to an applicant for or holder of a license under Chapter 1702,
Occupations Code, on or after January 1, 2018.
SECTION 3. This Act takes effect September 1, 2017.