|
|
|
|
AN ACT
|
|
relating to refund of excess unearned premiums by insurance premium |
|
finance companies. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 651.162(g), Insurance Code, is amended |
|
to read as follows: |
|
(g) If the crediting of return premiums to the account of an |
|
insured results in a surplus over the amount due from the insured, |
|
the insurance premium finance company shall refund the excess to |
|
the insured. If the amount of the excess is less than $5 [$1], the |
|
insured is not entitled to a refund. |
|
SECTION 2. 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, 2009. |
|
|
|
______________________________ |
______________________________ |
|
President of the Senate |
Speaker of the House |
|
|
|
I certify that H.B. No. 1975 was passed by the House on March |
|
31, 2009, by the following vote: Yeas 147, Nays 0, 2 present, not |
|
voting. |
|
|
|
______________________________ |
|
Chief Clerk of the House |
|
|
|
I certify that H.B. No. 1975 was passed by the Senate on May |
|
21, 2009, by the following vote: Yeas 31, Nays 0. |
|
|
|
______________________________ |
|
Secretary of the Senate |
|
APPROVED: _____________________ |
|
Date |
|
|
|
_____________________ |
|
Governor |