Bill Text: TX HB3450 | 2017-2018 | 85th Legislature | Introduced

Texas House Bill 3450 (Prior Session Legislation)

Introduced

Bill Title: Relating to the insurance requirement applicable to a guard company license.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2017-03-31 - Referred to Licensing & Administrative Procedures [HB3450 Detail]

Download: Texas-2017-HB3450-Introduced.html

	85R9839 BEE-F

	By: Anchia	H.B. No. 3450



	A BILL TO BE ENTITLED
	AN ACT
	relating to the insurance requirement applicable to a guard company
	license.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 1702.124, Occupations Code, is amended
	by amending Subsection (c) and adding Subsection (c-1) to read as
	follows:
	(c) Except as provided by Subsection (c-1), the [~~The~~]
	insurance policy must contain minimum limits of:
	(1) $100,000 for each occurrence for bodily injury and
	property damage;
	(2) $50,000 for each occurrence for personal injury;
	and
	(3) a total aggregate amount of $200,000 for all
	occurrences.
	(c-1) If the application is for a license to act as a guard
	company, the insurance policy must contain minimum limits of:
	(1) $1 million for each occurrence for bodily injury
	and property damage;
	(2) $1 million for each occurrence for personal
	injury; and
	(3) a total aggregate amount of $2 million for all
	occurrences.
	SECTION 2. The change in law made by this Act applies only
	to an applicant for or holder of a license under Chapter 1702,
	Occupations Code, on or after January 1, 2018.
	SECTION 3. This Act takes effect September 1, 2017.