Texas 2017 85th Regular

Texas Senate Bill SB1012 Senate Committee Report / Bill

Filed 02/02/2025

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                    By: Creighton S.B. No. 1012
 (In the Senate - Filed February 22, 2017; March 6, 2017,
 read first time and referred to Committee on Business & Commerce;
 April 3, 2017, reported favorably by the following vote:  Yeas 8,
 Nays 0; April 3, 2017, sent to printer.)
Click here to see the committee vote


 A BILL TO BE ENTITLED
 AN ACT
 relating to notification by an insurer of certain disciplinary
 actions imposed on the insurer for a violation of the insurance laws
 of another state.
 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 SECTION 1.  Section 81.003(b), Insurance Code, is amended to
 read as follows:
 (b)  An insurer shall notify the commissioner and shall
 deliver a copy of any applicable order or judgment to the
 commissioner not later than the 30th day after the date of the:
 (1)  suspension or revocation of the insurer's right to
 transact business in another state; or
 (2)  receipt of an order to show cause why the insurer's
 license in another state should not be suspended or revoked[; or
 [(3)     imposition of a penalty, forfeiture, or sanction
 on the insurer for a violation of the insurance laws of another
 state].
 SECTION 2.  This Act takes effect September 1, 2017.
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