Bill Text: TX HB3509 | 2017-2018 | 85th Legislature | Comm Sub

Texas House Bill 3509 (Prior Session Legislation)

Bill Title: Relating to maximum liability limits for windstorm and hail insurance coverage provided through the Texas Windstorm Insurance Association.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-05-11 - Placed on General State Calendar [HB3509 Detail]

Download: Texas-2017-HB3509-Comm_Sub.html

	85R24058 PMO-D

	By: Faircloth	H.B. No. 3509

	Substitute the following for H.B. No. 3509:

	By: Phillips	C.S.H.B. No. 3509



	A BILL TO BE ENTITLED
	AN ACT
	relating to maximum liability limits for windstorm and hail
	insurance coverage provided through the Texas Windstorm Insurance
	Association.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 2210.501(a), Insurance Code, is amended
	to read as follows:
	(a) The board of directors shall propose the maximum
	liability limits under a windstorm and hail insurance policy issued
	by the association under this chapter. The maximum liability
	limits are considered [~~must be~~] approved by the commissioner unless
	the commissioner disapproves or modifies the liability limits by
	order issued not later than the 30th day after the date of receipt
	of a filing under Section 2210.503.
	SECTION 2. Section 2210.504(a), Insurance Code, is amended
	to read as follows:
	(a) Not later than the 30th [~~60th~~] day after the date the
	commissioner disapproves or modifies [~~of receipt of~~] a filing under
	Section 2210.503, and after notice and hearing, the commissioner by
	order shall approve, disapprove, or modify the proposed adjustment
	to the maximum liability limits.
	SECTION 3. The changes in law made by this Act apply only to
	a proposed maximum liability limit for an insurance policy
	delivered, issued for delivery, or renewed on or after January 1,
	2018. A proposed maximum liability limit for an insurance policy
	delivered, issued for delivery, or renewed before January 1, 2018,
	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 4. 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, 2017.