By: Dean H.B. No. 5173
A BILL TO BE ENTITLED
AN ACT
relating to annual statistical reports for and the adoption of
title insurance premium rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2703.153, Insurance Code, is amended by
adding Subsections (a-1) and (c-1) to read as follows:
(a-1) Not later than May 15th of each year, the department
shall issue a call to each title agent and not later than July 16th
to each title company engaged in the business of title insurance for
the statistical report data required under Subsection (a).
(c-1) Not later than September 1 of each year, the
department shall publish on the department's Internet website a
compilation report summarizing the statistical reports submitted
under Subsection (a).
SECTION 2. Any rate ordered or adopted under this Title that
is not in effect before June 2, 2025, shall not become effective.
Any new rate ordered by the department under this Title shall comply
with the changes in law made by this Act.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected in each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act take effect September 1, 2025