Bill Text: TX SB112 | 2013-2014 | 83rd Legislature | Enrolled
Bill Title: Relating to a requirement for and the contents of a declarations page required for certain standard insurance policy forms for residential property insurance.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Passed) 2013-06-14 - Effective on 9/1/13 [SB112 Detail]
Download: Texas-2013-SB112-Enrolled.html
S.B. No. 112 |
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relating to a requirement for and the contents of a declarations | ||
page required for certain standard insurance policy forms for | ||
residential property insurance. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter B, Chapter 2301, Insurance Code, is | ||
amended by adding Section 2301.056 to read as follows: | ||
Sec. 2301.056. REQUIREMENT FOR FORMS; DECLARATIONS PAGE | ||
REQUIREMENT. (a) A residential property insurance policy form | ||
must include a declarations page that: | ||
(1) lists and identifies each type of deductible under | ||
the residential property insurance policy; and | ||
(2) states the exact dollar amount of each deductible | ||
under the residential property insurance policy. | ||
(b) If a residential property insurance policy or an | ||
endorsement attached to the policy contains a provision that may | ||
cause the exact dollar amount of a deductible under the policy to | ||
change, the declarations page must identify or include a written | ||
disclosure that clearly identifies the applicable policy provision | ||
or endorsement. The policy provision or endorsement must explain | ||
how any change in the applicable deductible amount is determined. | ||
(c) A disclosure containing a list required by Subsection | ||
(a)(1), or a disclosure containing an identification of each | ||
applicable policy provision or endorsement, may be provided on a | ||
page separate from the declarations page. | ||
SECTION 2. This Act applies only to an insurance policy | ||
delivered, issued for delivery, or renewed on or after January 1, | ||
2014. A policy delivered, issued for delivery, or renewed before | ||
January 1, 2014, is governed by the law as it existed immediately | ||
before the effective date of this Act, and that law is continued in | ||
effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2013. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 112 passed the Senate on | ||
March 13, 2013, by the following vote: Yeas 31, Nays 0; and that | ||
the Senate concurred in House amendment on May 20, 2013, by the | ||
following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 112 passed the House, with | ||
amendment, on May 16, 2013, by the following vote: Yeas 97, | ||
Nays 44, four present not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |