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AN ACT
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relating to the qualifications of certain nonresident individuals |
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to hold a surplus lines agent license. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 981.203, Insurance Code, is amended by |
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adding Subsection (a-1) to read as follows: |
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(a-1) Notwithstanding Subsection (a)(1)(B), an individual |
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is not required to obtain a general property and casualty agent |
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license to hold a surplus lines agent license if: |
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(1) the home state of each insured is Texas; |
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(2) the individual is a nonresident of this state; |
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(3) the individual is licensed as a surplus lines |
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agent in the individual's state of residence; |
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(4) the individual is not required by the individual's |
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state of residence to hold a general property and casualty agent |
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license to become licensed as a surplus lines agent; |
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(5) the individual has provided information |
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acceptable to the commissioner that the individual's state of |
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residence does not require a general property and casualty agent |
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license for a surplus lines agent license; |
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(6) the individual's state of residence does not |
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require a surplus lines agent to search for the availability of |
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insurance in the individual's state of residence before the |
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insurance is placed through a surplus lines agent; |
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(7) the individual's state of residence allows a |
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licensed general property and casualty agent to search for the |
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availability of insurance in the individual's state of residence; |
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(8) the individual has a professional relationship |
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with, and each transaction is conducted through, a person who: |
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(A) is a licensed general property and casualty |
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agent in this state or in the state of each transaction; and |
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(B) searches for the availability of insurance in |
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this state before the insurance is placed through a surplus lines |
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agent; and |
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(9) each transaction complies with the laws of the |
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state in which it occurs. |
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SECTION 2. The change in law made by this Act applies to a |
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license application submitted on or after the effective date of |
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this Act. A license application submitted before the effective |
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date of this Act is governed by the law in effect immediately before |
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the effective date of this Act, and that law is continued in effect |
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for that purpose. |
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SECTION 3. This Act takes effect January 1, 2014. |
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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. 697 passed the Senate on |
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March 27, 2013, by the following vote: Yeas 30, Nays 0; and that |
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the Senate concurred in House amendment on May 22, 2013, by the |
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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. 697 passed the House, with |
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amendment, on May 17, 2013, by the following vote: Yeas 134, |
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Nays 0, two 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 |