Bill Text: TX SB95 | 2011-2012 | 82nd Legislature | Engrossed
Bill Title: Relating to the use by insurers of certain standard insurance policy forms for residential property insurance.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2011-04-28 - Referred to Insurance [SB95 Detail]
Download: Texas-2011-SB95-Engrossed.html
By: Lucio, Davis | S.B. No. 95 |
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relating to the use by insurers of certain standard insurance | ||
policy forms for residential property insurance. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2301.008, Insurance Code, is amended to | ||
read as follows: | ||
Sec. 2301.008. ADOPTION AND USE OF STANDARD FORMS. | ||
(a) The commissioner may adopt standard insurance policy forms, | ||
printed endorsement forms, and forms related to [ |
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insurance policy forms and printed endorsement forms, that an | ||
insurer may use instead of the insurer's own forms in writing | ||
insurance subject to this subchapter. | ||
(b) The commissioner shall adopt a standard declarations | ||
page for use with residential property forms subject to this | ||
subchapter. An insurer may use the declarations page adopted by the | ||
commissioner under this section instead of the insurer's own | ||
declarations page. A declarations page adopted under this | ||
subchapter must: | ||
(1) list and explain each type of deductible | ||
applicable to the form; and | ||
(2) list the exact dollar amount of each deductible | ||
applicable to the form. | ||
SECTION 2. Section 2301.053, Insurance Code, is amended by | ||
adding Subsection (e) to read as follows: | ||
(e) A residential property form may not be used unless the | ||
declarations page: | ||
(1) lists and explains each type of deductible | ||
applicable to the form; and | ||
(2) lists the exact dollar amount of each deductible | ||
applicable to the form. | ||
SECTION 3. This Act applies only to an insurance policy | ||
delivered, issued for delivery, or renewed on or after January 1, | ||
2012. A policy delivered, issued for delivery, or renewed before | ||
January 1, 2012, 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 September 1, 2011. |