Bill Text: TX HB3810 | 2021-2022 | 87th Legislature | Engrossed
Bill Title: Relating to the authority of the Texas Windstorm Insurance Association to raise premium rates on association policies.
Spectrum: Slight Partisan Bill (Republican 15-5)
Status: (Engrossed - Dead) 2021-04-19 - Referred to Business & Commerce [HB3810 Detail]
Download: Texas-2021-HB3810-Engrossed.html
87R8210 SMT-D | ||
By: Hunter, Canales, Morrison, Lucio III, | H.B. No. 3810 | |
Middleton, et al. |
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relating to the authority of the Texas Windstorm Insurance | ||
Association to raise premium rates on association policies. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2210.351, Insurance Code, is amended by | ||
amending Subsection (d) and adding Subsection (f) to read as | ||
follows: | ||
(d) The association may use a rate filed by the association | ||
without prior commissioner approval if: | ||
(1) the filing is made not later than the 30th day | ||
before the date of any use or delivery for use of the rate; | ||
(2) the filed rate does not exceed [ |
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rate in effect on the date on which the filing is made; and | ||
(3) [ |
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[ |
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in writing, advising of the reasons for the disapproval and the | ||
criteria the association is required to meet to obtain approval. | ||
(f) The association may not file a rate under this section | ||
that exceeds the rate in effect on the date on which the filing is | ||
made unless two-thirds of the board of directors votes to approve | ||
the rate. | ||
SECTION 2. Section 2210.352, Insurance Code, is amended by | ||
amending Subsection (a-1) and adding Subsection (a-3) to read as | ||
follows: | ||
(a-1) The association may use a rate filed by the | ||
association under this section without prior commissioner approval | ||
if: | ||
(1) the filing is made not later than the 30th day | ||
before the date of any use or delivery for use of the rate; and | ||
(2) the filed rate does not exceed [ |
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rate used by the association in effect on the date on which the | ||
filing is made[ |
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[ |
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(a-3) The association may not file a rate under this section | ||
that exceeds the rate in effect on the date on which the filing is | ||
made unless two-thirds of the board of directors votes to approve | ||
the rate. | ||
SECTION 3. The change in law made by this Act applies only | ||
to a rate filed by the Texas Windstorm Insurance Association with | ||
the Texas Department of Insurance on or after the effective date of | ||
this Act. A rate filed with the Texas Department of Insurance | ||
before the effective date of this Act is governed by the law as it | ||
existed immediately before that date, and that law is continued in | ||
effect for that purpose. | ||
SECTION 4. This Act takes effect September 1, 2021. |