| 1 | 1 | | 88R7376 CJD-F |
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| 2 | 2 | | By: Guillen H.B. No. 1860 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the filing of an annual audit report by a title |
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| 8 | 8 | | insurance company, title insurance agent, or direct operation. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 2651.151(b), Insurance Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | (b) Not later than the 90th day after the date of the end of |
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| 13 | 13 | | the agent's or direct operation's fiscal year, the agent or direct |
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| 14 | 14 | | operation shall file with [send by certified mail, postage prepaid, |
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| 15 | 15 | | to] the department one copy of the audit report with a transmittal |
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| 16 | 16 | | letter. The agent shall also send a copy of the audit report and |
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| 17 | 17 | | transmittal letter to each title insurance company that the agent |
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| 18 | 18 | | represents. |
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| 19 | 19 | | SECTION 2. Section 2651.152(b), Insurance Code, is amended |
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| 20 | 20 | | to read as follows: |
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| 21 | 21 | | (b) Not later than the 90th day after the date of the end of |
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| 22 | 22 | | the title insurance company's fiscal year, the company shall file |
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| 23 | 23 | | with [send by certified mail, postage prepaid, to] the department |
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| 24 | 24 | | one copy of the audit report. |
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| 25 | 25 | | SECTION 3. This Act takes effect September 1, 2023. |
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