H.B. No. 2503
  relating to insurance agent licenses issued to certain foreign
  corporations and partnerships.
         SECTION 1.  Section 4001.106(b), Insurance Code, is amended
  to read as follows:
         (b)  The department shall issue a license to a corporation or
  partnership if the department determines that:
               (1)  the corporation or partnership is:
                     (A)  organized under the laws of this state or
  another state; and
                     (B)  [admitted to engage in business in this state
  by the secretary of state, if required; and
                     [(C)]  authorized by its articles of
  incorporation or its partnership agreement to act as an agent;
               (2)  at least one officer of the corporation or one
  active partner of the partnership and all other persons performing
  any acts of an agent on behalf of the corporation or partnership in
  this state are individually licensed by the department separately
  from the corporation or partnership;
               (3)  the corporation or partnership will have the
  ability to pay any amount up to $25,000 that it might become legally
  obligated to pay under a claim made against it by a customer and
  caused by a negligent act, error, or omission of the corporation or
  partnership or a person for whose acts the corporation or
  partnership is legally liable in the conduct of its business under
  this code;
               (4)  if engaged in the business of insurance, the
  corporation or partnership intends to be actively engaged in that
  business as required under Section 4001.104(a);
               (5)  each location from which the corporation or
  partnership will engage in business in this state under authority
  of a license issued by the department is registered separately with
  the department;
               (6)  the corporation or partnership has submitted the
  application, appropriate fees, and any other information required
  by the department; and
               (7)  an officer, director, member, manager, partner, or
  other person who has the right or ability to control the corporation
  or partnership has not:
                     (A)  had a license suspended or revoked or been
  the subject of any other disciplinary action by a financial or
  insurance regulator of this state, another state, or the United
  States; or
                     (B)  committed an act for which a license may be
  denied under Subchapter C, Chapter 4005.
         SECTION 2.  This Act applies only to a license application
  filed on or after the effective date of this Act. A license
  application filed before the effective date of this Act is governed
  by the law in effect on the date the application was filed, and that
  law is continued in effect for that purpose.
         SECTION 3.  This Act takes effect September 1, 2011.
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
         I certify that H.B. No. 2503 was passed by the House on April
  7, 2011, by the following vote:  Yeas 144, Nays 0, 1 present, not
  Chief Clerk of the House   
         I certify that H.B. No. 2503 was passed by the Senate on May
  12, 2011, by the following vote:  Yeas 31, Nays 0
  Secretary of the Senate    
  APPROVED:  _____________________