Bill Text: TX SB631 | 2013-2014 | 83rd Legislature | Enrolled
Bill Title: Relating to certain statutory insurance deposit requirements.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-06-14 - Effective immediately [SB631 Detail]
Download: Texas-2013-SB631-Enrolled.html
S.B. No. 631 |
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relating to certain statutory insurance deposit requirements. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subsections (d) and (f), Section 406.006, | ||
Insurance Code, are amended to read as follows: | ||
(d) The commissioner shall issue a letter approving or an | ||
order [ |
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later than the 30th day after the date the department receives the | ||
application. If the commissioner does not approve or deny the | ||
application within that period, the application is denied. | ||
(f) The comptroller may not release a deposit made under | ||
this chapter, or any part of the deposit, and may not accept a | ||
substitute for a deposited security unless the commissioner issues | ||
a letter [ |
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SECTION 2. The changes in law made by this Act apply to an | ||
application for substitution or withdrawal of a deposit filed on or | ||
after the effective date of this Act. An application filed before | ||
the effective date of this Act is governed by the law applicable to | ||
the application immediately before that date, and that law is | ||
continued in effect for that purpose. | ||
SECTION 3. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to 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 takes effect September 1, 2013. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 631 passed the Senate on | ||
March 13, 2013, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 631 passed the House on | ||
May 17, 2013, by the following vote: Yeas 134, Nays 0, two | ||
present not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |