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AN ACT
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relating to the amount of outstanding total liability of a mortgage |
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guaranty insurer. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (b), Section 3502.156, Insurance |
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Code, is amended to read as follows: |
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(b) [A mortgage guaranty insurer shall compute the
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insurer's liability for the purposes of this section on the basis of
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the insurer's liability under the election as provided by Section
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3502.158.] An insurer shall compute the insurer's liability for |
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leases on the basis of the insurer's liability as determined by the |
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department. |
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SECTION 2. Section 3502.158, Insurance Code, is repealed. |
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SECTION 3. 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, 2013. |
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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. 147 passed the Senate on |
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March 13, 2013, 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. 147 passed the House on |
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May 20, 2013, 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 |