Bill Text: TX HB3008 | 2017-2018 | 85th Legislature | Engrossed


Bill Title: Relating to the provision of certain information or assistance by life insurance agents to owners of life insurance policies.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2017-05-11 - Referred to Business & Commerce [HB3008 Detail]

Download: Texas-2017-HB3008-Engrossed.html
  85R26019 PMO-F
 
  By: Thompson of Harris H.B. No. 3008
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the provision of certain information or assistance by
  life insurance agents to owners of life insurance policies.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 1101, Insurance Code, is amended by
  adding Subchapter E to read as follows:
  SUBCHAPTER E. AGENT COMMUNICATIONS
         Sec. 1101.201.  APPLICABILITY OF SUBCHAPTER. This
  subchapter applies with respect to a life insurance policy owned by
  an individual who is a resident of this state regardless of the
  place the policy is issued, delivered, or renewed.
         Sec. 1101.202.  PROTECTED COMMUNICATIONS. A life insurance
  company that issues or provides coverage under an individual life
  insurance policy may not terminate, fine, or otherwise penalize an
  insurance agent who is the agent of record for the policy or who has
  a business relationship with the policy owner for:
               (1)  informing the policy owner or the policy owner's
  designee about options available under the policy terms with
  respect to the lapse or surrender of the policy; or
               (2)  assisting the policy owner with securing benefits
  under the terms of the policy.
         SECTION 2.  This Act takes effect September 1, 2017.
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