| 8 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 10 | | SECTION 1. Section 822.056(d), Insurance Code, is amended |
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| 10 | 11 | | to read as follows: |
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| 11 | 12 | | (d) The shareholders of an insurance company authorizing |
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| 12 | 13 | | shares of stock without par value must pay a total amount of at |
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| 13 | 14 | | least $250,000 for the shares [in good faith subscribe and pay for |
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| 14 | 15 | | shares representing at least 50 percent of the authorized shares |
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| 15 | 16 | | without par value] before the company is granted a charter or has |
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| 16 | 17 | | its charter amended to authorize the issuance of shares without par |
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| 17 | 18 | | value. [The total amount paid for the shares must be at least |
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| 18 | 19 | | $250,000.] |
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| 19 | 20 | | SECTION 2. Section 841.057(c), Insurance Code, is amended |
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| 20 | 21 | | to read as follows: |
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| 21 | 22 | | (c) The shareholders of an insurance company authorizing |
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| 22 | 23 | | shares of stock without par value must pay a total amount of at |
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| 23 | 24 | | least $250,000 for the shares [in good faith subscribe and pay for |
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| 24 | 25 | | shares representing at least 50 percent of the authorized shares |
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| 25 | 26 | | without par value] before the company is granted a charter or has |
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| 26 | 27 | | its charter amended to authorize the issuance of shares without par |
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| 27 | 28 | | value. [The total amount paid for the shares must be at least |
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| 28 | 29 | | $250,000.] |
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| 29 | | - | SECTION 3. Section 2251.052, Insurance Code, is amended by |
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| 30 | | - | adding Subsection (f) to read as follows: |
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| 31 | | - | (f) Notwithstanding Section 1953.051(a), in setting rates, |
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| 32 | | - | an insurer writing personal or commercial automobile insurance may |
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| 33 | | - | include in a filing made under this chapter any rating rule, rate |
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| 34 | | - | variable, or rate classification that a county mutual insurance |
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| 35 | | - | company has filed and implemented under this chapter. |
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| 36 | | - | SECTION 4. The following provisions of the Insurance Code |
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| 30 | + | SECTION 3. The following provisions of the Insurance Code |
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