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A BILL TO BE ENTITLED
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AN ACT
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relating to notification by an insurer of certain disciplinary |
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actions imposed on the insurer for a violation of the insurance laws |
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of another state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 81.003(b), Insurance Code, is amended to |
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read as follows: |
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(b) An insurer shall notify the commissioner and shall |
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deliver a copy of any applicable order or judgment to the |
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commissioner not later than the 30th day after the date of the: |
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(1) suspension or revocation of the insurer's right to |
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transact business in another state; or |
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(2) receipt of an order to show cause why the insurer's |
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license in another state should not be suspended or revoked[; or
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[(3)
imposition of a penalty, forfeiture, or sanction
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on the insurer for a violation of the insurance laws of another
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state]. |
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SECTION 2. This Act takes effect September 1, 2017. |