| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Hancock S.B. No. 2978 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | A BILL TO BE ENTITLED | |
| 7 | 7 | AN ACT | |
| 8 | 8 | relating to presuit notice associated with certain insurance claims | |
| 9 | 9 | for property damage. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 542A.003, Insurance Code is amended by | |
| 12 | 12 | adding Subsection (b-1) to read as follows: | |
| 13 | 13 | (b-1) The amount of money alleged by the claimant to be owed | |
| 14 | 14 | by the insurer on the claim for damage to or loss of covered | |
| 15 | 15 | property as required by Subsection (b)(2) must be an amount the | |
| 16 | 16 | claimant will accept in full payment of the claim, and payment of | |
| 17 | 17 | that amount by the insurer during the period provided by Subsection | |
| 18 | 18 | (a) or Section 542A.005(e), as applicable, settles and resolves the | |
| 19 | 19 | claimant's claim. | |
| 20 | 20 | SECTION 2. The changes in law made by this Act apply only to | |
| 21 | 21 | an action commenced on or after the effective date of this Act. An | |
| 22 | 22 | action commenced before the effective date of this Act is governed | |
| 23 | 23 | by the law applicable to the action immediately before the | |
| 24 | 24 | effective date of this Act, and that law is continued in effect for | |
| 25 | 25 | that purpose. | |
| 26 | 26 | SECTION 3. This Act takes effect immediately if it receives | |
| 27 | 27 | a vote of two-thirds of all the members elected to each house, as | |
| 28 | 28 | provided by Section 39, Article III, Texas Constitution. If this | |
| 29 | 29 | Act does not receive the vote necessary for immediate effect, this | |
| 30 | 30 | Act takes effect September 1, 2025. |