H.B. No. 2920
AN ACT
relating to a grace period for payment of premiums on insurance
policies renewed by the Texas Windstorm Insurance Association.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2210.203, Insurance Code, is amended by
adding Subsection (c-1) to read as follows:
(c-1) With the advice of the association, the commissioner
shall adopt rules establishing a grace period of not more than 10
days after the due date for the receipt of payment of premium for
the renewal of a policy.
SECTION 2. Not later than June 1, 2022, the commissioner of
insurance, with the advice of the Texas Windstorm Insurance
Association, shall adopt rules as required by Section
2210.203(c-1), Insurance Code, as added by this Act.
SECTION 3. This Act takes effect September 1, 2021.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2920 was passed by the House on April
16, 2021, by the following vote: Yeas 142, Nays 3, 2 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2920 was passed by the Senate on May
19, 2021, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor