H.B. No. 1571
AN ACT
relating to requirements for a group life insurance policy to be
issued for certain employee groups.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1131.203(a), Insurance Code, is amended
to read as follows:
[(a)] The policyholder must pay the premium for the policy:
(1) wholly from the employer's fund or funds
contributed by the employer; [or]
(2) partly from funds described by Subdivision (1) and
partly from funds contributed by the insured employees; or
(3) wholly from funds contributed by the insured
employees.
SECTION 2. Sections 1131.203(b) and 1131.204(b), Insurance
Code, are repealed.
SECTION 3. The change in law made by this Act applies only
to a group life insurance policy delivered, issued for delivery, or
renewed on or after the effective date of this Act. An insurance
policy delivered, issued for delivery, or renewed before the
effective date of this Act is governed by the law in effect
immediately before that date, and that law is continued in effect
for that purpose.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2005.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1571 was passed by the House on May 9,
2005, by the following vote: Yeas 144, Nays 0, 3 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 1571 was passed by the Senate on May
25, 2005, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor