Bill Text: TX HB3458 | 2011-2012 | 82nd Legislature | Comm Sub
Bill Title: Relating to the registration with the Texas Department of Insurance of certain contract examiners.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-05-13 - Laid on the table subject to call [HB3458 Detail]
Download: Texas-2011-HB3458-Comm_Sub.html
By: Eiland | H.B. No. 3458 |
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relating to the registration with the Texas Department of Insurance | ||
of certain contract examiners. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 401.107, Insurance Code, is amended by | ||
amending Subsection (a) and adding Subsection (a-1) to read as | ||
follows: | ||
(a) A person with whom another state contracts to perform | ||
any examination initiated by the other state of an insurer | ||
domiciled in this state shall register with and provide the | ||
following information to the department's chief examiner: | ||
(1) the person's name; | ||
(2) if the person is not an individual, the identity of | ||
each examiner or other person who will perform any part of the | ||
examination; | ||
(3) the name of the state that contracted with the | ||
person; | ||
(4) the identity of the insurer to be examined; [ |
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(5) a description of each issue that the person has | ||
been contracted to examine; | ||
(6) an estimate of the examination costs to be charged | ||
to the insurer to be examined; | ||
(7) a copy of any contract between the person and the | ||
state regulatory body that initiated the examination and a letter | ||
authorizing the examination; and | ||
(8) a list of the previous examinations conducted on | ||
the same insurer on behalf of any state within the last three years. | ||
(a-1) On accepting a person's registration under Subsection | ||
(a), the department shall send written confirmation of the | ||
acceptance to: | ||
(1) the person; | ||
(2) the insurer to be examined; and | ||
(3) the state regulatory body that initiated the | ||
examination. | ||
SECTION 2. Section 751.052, Insurance Code, is amended by | ||
amending Subsection (b) and adding Subsection (b-1) to read as | ||
follows: | ||
(b) A person with whom another state contracts to perform | ||
any market analysis or examination initiated by the other state of | ||
an insurer domiciled in this state shall register with and provide | ||
the following information to the department's chief examiner: | ||
(1) the person's name; | ||
(2) if the person is not an individual, the identity of | ||
each examiner or other person who will perform any part of the | ||
market analysis or examination; | ||
(3) the name of the state that contracted with the | ||
person; | ||
(4) the identity of the insurer to be examined; [ |
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(5) a description of each issue that the person has | ||
been contracted to examine; | ||
(6) an estimate of the examination costs to be charged | ||
to the insurer to be examined; | ||
(7) a copy of any contract between the person and the | ||
state regulatory body that initiated the examination and the letter | ||
authorizing the examination; and | ||
(8) a list of the previous examinations conducted on | ||
the same insurer on behalf of any state within the last three years. | ||
(b-1) On accepting a person's registration under Subsection | ||
(b), the department shall send written confirmation of the | ||
acceptance to: | ||
(1) the person; | ||
(2) the insurer to be examined; and | ||
(3) the state regulatory body that initiated the | ||
examination. | ||
SECTION 3. Section 4053.107, Insurance Code, is amended by | ||
amending Subsection (d) and adding Subsection (d-1) to read as | ||
follows: | ||
(d) A person with whom another state contracts to perform | ||
any examination initiated by the other state of a managing general | ||
agent licensed under this chapter shall register with and provide | ||
the following information to the department's chief examiner: | ||
(1) the person's name; | ||
(2) if the person is not an individual, the identity of | ||
each examiner or other person who will perform any part of the | ||
examination; | ||
(3) the name of the state that contracted with the | ||
person; | ||
(4) the identity of the managing general agent to be | ||
examined; [ |
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(5) a description of each issue that the person has | ||
been contracted to examine; | ||
(6) an estimate of the examination costs to be charged | ||
to the managing general agent to be examined; | ||
(7) a copy of any contract between the person and the | ||
state regulatory body that initiated the examination and the letter | ||
authorizing the examination; and | ||
(8) a list of the previous examinations conducted on | ||
the same managing general agent on behalf of any state within the | ||
last three years. | ||
(d-1) On accepting a person's registration under Subsection | ||
(d), the department shall send written confirmation of the | ||
acceptance to: | ||
(1) the person; | ||
(2) the managing general agent to be examined; and | ||
(3) the state regulatory body that initiated the | ||
examination. | ||
SECTION 4. The changes in law made by this Act to Sections | ||
401.107, 751.052, and 4053.107, Insurance Code, apply only to an | ||
examination commencing on or after September 1, 2011. An | ||
examination commencing before September 1, 2011, is subject to the | ||
law in effect on the date the examination was commenced, and that | ||
law is continued in effect for that purpose. | ||
SECTION 5. 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, 2011. |