Bill Text: TX HB1901 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the filing of an annual audit report by a title insurance company, title insurance agent, or direct operation.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2023-06-09 - Effective on 9/1/23 [HB1901 Detail]

Download: Texas-2023-HB1901-Comm_Sub.html

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By: Smithee (Senate Sponsor - Kolkhorst) H.B. No. 1901
(In the Senate - Received from the House April 17, 2023;
April 18, 2023, read first time and referred to Committee on
Business & Commerce; May 5, 2023, reported favorably by the
following vote: Yeas 10, Nays 0; May 5, 2023, sent to printer.)
Click here to see the committee vote

A BILL TO BE ENTITLED
AN ACT
relating to the filing of an annual audit report by a title
insurance company, title insurance agent, or direct operation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2651.151(b), Insurance Code, is amended
to read as follows:
(b) Not later than the 90th day after the date of the end of
the agent's or direct operation's fiscal year, the agent or direct
operation shall file with [send by certified mail, postage prepaid,
to] the department one copy of the audit report with a transmittal
letter. The agent shall also send a copy of the audit report and
transmittal letter to each title insurance company that the agent
represents.
SECTION 2. Section 2651.152(b), Insurance Code, is amended
to read as follows:
(b) Not later than the 90th day after the date of the end of
the title insurance company's fiscal year, the company shall file
with [send by certified mail, postage prepaid, to] the department
one copy of the audit report.
SECTION 3. This Act takes effect September 1, 2023.
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