Bill Text: TX HB1902 | 2013-2014 | 83rd Legislature | Comm Sub
Bill Title: Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2013-04-24 - Laid on the table subject to call [HB1902 Detail]
Download: Texas-2013-HB1902-Comm_Sub.html
| 83R7230 MEW-F | ||
| By: Eiland, Sheets | H.B. No. 1902 | |
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| relating to the refund of unearned premium for a personal | ||
| automobile or residential property insurance policy. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 558.002, Insurance Code, is amended by | ||
| adding Subsections (d) and (e) to read as follows: | ||
| (d) An insurer shall refund the appropriate portion of any | ||
| unearned premium to the policyholder not later than the 15th | ||
| business day after the effective date of cancellation or | ||
| termination of a policy of personal automobile or residential | ||
| property insurance, as those terms are defined by Section 2301.051. | ||
| (e) For purposes of this section, "business day" means a day | ||
| other than a Saturday, Sunday, or holiday recognized by this state. | ||
| SECTION 2. Section 558.002, Insurance Code, as amended by | ||
| this Act, applies only to an insurance policy delivered, issued for | ||
| delivery, or renewed on or after September 1, 2013. A policy that is | ||
| delivered, issued for delivery, or renewed before September 1, | ||
| 2013, 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 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. | ||
