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AN ACT
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relating to the registration with the Texas Department of Insurance |
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of certain contract examiners. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 401.107, Insurance Code, is amended by |
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amending Subsection (a) and adding Subsection (a-1) to read as |
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follows: |
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(a) A person with whom another state contracts to perform |
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any examination initiated by the other state of an insurer |
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domiciled in this state shall register with and provide the |
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following information to the department's chief examiner: |
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(1) the person's name; |
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(2) if the person is not an individual, the identity of |
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each examiner or other person who will perform any part of the |
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examination; |
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(3) the name of the state that contracted with the |
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person; |
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(4) the identity of the insurer to be examined; [and] |
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(5) a description of each issue that the person has |
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been contracted to examine; |
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(6) an estimate of the examination costs to be charged |
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to the insurer to be examined; |
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(7) a copy of any contract between the person and the |
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state regulatory body that initiated the examination and a letter |
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authorizing the examination; and |
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(8) a list of the previous examinations conducted on |
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the same insurer on behalf of any state within the last three years. |
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(a-1) On accepting a person's registration under Subsection |
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(a), the department shall send written confirmation of the |
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acceptance to: |
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(1) the person; |
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(2) the insurer to be examined; and |
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(3) the state regulatory body that initiated the |
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examination. |
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SECTION 2. Section 751.052, Insurance Code, is amended by |
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amending Subsection (b) and adding Subsection (b-1) to read as |
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follows: |
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(b) A person with whom another state contracts to perform |
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any market analysis or examination initiated by the other state of |
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an insurer domiciled in this state shall register with and provide |
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the following information to the department's chief examiner: |
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(1) the person's name; |
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(2) if the person is not an individual, the identity of |
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each examiner or other person who will perform any part of the |
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market analysis or examination; |
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(3) the name of the state that contracted with the |
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person; |
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(4) the identity of the insurer to be examined; [and] |
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(5) a description of each issue that the person has |
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been contracted to examine; |
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(6) an estimate of the examination costs to be charged |
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to the insurer to be examined; |
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(7) a copy of any contract between the person and the |
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state regulatory body that initiated the examination and the letter |
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authorizing the examination; and |
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(8) a list of the previous examinations conducted on |
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the same insurer on behalf of any state within the last three years. |
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(b-1) On accepting a person's registration under Subsection |
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(b), the department shall send written confirmation of the |
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acceptance to: |
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(1) the person; |
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(2) the insurer to be examined; and |
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(3) the state regulatory body that initiated the |
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examination. |
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SECTION 3. Section 4053.107, Insurance Code, is amended by |
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amending Subsection (d) and adding Subsection (d-1) to read as |
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follows: |
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(d) A person with whom another state contracts to perform |
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any examination initiated by the other state of a managing general |
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agent licensed under this chapter shall register with and provide |
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the following information to the department's chief examiner: |
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(1) the person's name; |
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(2) if the person is not an individual, the identity of |
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each examiner or other person who will perform any part of the |
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examination; |
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(3) the name of the state that contracted with the |
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person; |
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(4) the identity of the managing general agent to be |
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examined; [and] |
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(5) a description of each issue that the person has |
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been contracted to examine; |
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(6) an estimate of the examination costs to be charged |
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to the managing general agent to be examined; |
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(7) a copy of any contract between the person and the |
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state regulatory body that initiated the examination and the letter |
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authorizing the examination; and |
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(8) a list of the previous examinations conducted on |
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the same managing general agent on behalf of any state within the |
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last three years. |
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(d-1) On accepting a person's registration under Subsection |
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(d), the department shall send written confirmation of the |
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acceptance to: |
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(1) the person; |
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(2) the managing general agent to be examined; and |
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(3) the state regulatory body that initiated the |
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examination. |
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SECTION 4. The changes in law made by this Act to Sections |
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401.107, 751.052, and 4053.107, Insurance Code, apply only to an |
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examination commencing on or after September 1, 2011. An |
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examination commencing before September 1, 2011, is subject to the |
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law in effect on the date the examination was commenced, and that |
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law is continued in effect for that purpose. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1229 passed the Senate on |
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April 21, 2011, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1229 passed the House on |
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May 13, 2011, by the following vote: Yeas 144, Nays 0, one |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |