Bill Text: TX HR2910 | 2013-2014 | 83rd Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Suspending limitations on conference committee jurisdiction, H.B. No. 3106.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2013-05-30 - Reported enrolled [HR2910 Detail]
Download: Texas-2013-HR2910-Introduced.html
Bill Title: Suspending limitations on conference committee jurisdiction, H.B. No. 3106.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2013-05-30 - Reported enrolled [HR2910 Detail]
Download: Texas-2013-HR2910-Introduced.html
83R30913 PMO-D | ||
By: Morrison | H.R. No. 2910 |
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BE IT RESOLVED by the House of Representatives of the State of | ||
Texas, 83rd Legislature, Regular Session, 2013, That House Rule 13, | ||
Section 9(a), be suspended in part as provided by House Rule 13, | ||
Section 9(f), to enable the conference committee appointed to | ||
resolve the differences on House Bill 3106 (compensatory payments | ||
and reinsurance agreements made in connection with the issuance of | ||
title insurance) to consider and take action on the following | ||
matter: | ||
House Rule 13, Section 9(a)(4), is suspended to permit the | ||
committee to add text on a matter which is not included in either | ||
the house or senate version of the bill by adding the following new | ||
SECTIONS to the bill: | ||
SECTION 2. Section 2551.305, Insurance Code, is amended by | ||
adding Subsection (e) to read as follows: | ||
(e) Notwithstanding any other provision of this subchapter, | ||
a title insurance company may obtain reinsurance by a reinsurance | ||
treaty or other reinsurance agreement from an assuming insurer with | ||
a financial strength rating of B+ or better from the A. M. Best | ||
Company that meets the requirements of Subchapter C, Chapter 493, | ||
if the title insurance company has provided the department with an | ||
affidavit that: | ||
(1) contains facts that demonstrate the title | ||
insurance company was unable after diligent effort to procure | ||
sufficient reinsurance from another title insurance company; and | ||
(2) states the terms of the reinsurance treaty or | ||
other reinsurance agreement that the title insurance company will | ||
obtain. | ||
SECTION 4. The change in law made by Section 2551.305(e), | ||
Insurance Code, as added by this Act, applies only to reinsurance | ||
obtained on or after the effective date of this Act. Reinsurance | ||
obtained before the effective date of this Act 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. | ||
Explanation: This addition is necessary to allow a title | ||
insurance company, on satisfaction of certain requirements, to | ||
obtain reinsurance from certain insurers. |