Bill Text: TX HB3076 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the establishment of the Texas Tornado and Wildfire Insurance Association; authorizing fees.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-13 - Referred to Insurance [HB3076 Detail]
Download: Texas-2019-HB3076-Introduced.html
86R14232 PMO-D | ||
By: King of Hemphill | H.B. No. 3076 |
|
||
|
||
relating to the establishment of the Texas Tornado and Wildfire | ||
Insurance Association; authorizing fees. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subtitle G, Title 10, Insurance Code, is amended | ||
by adding Chapter 2214 to read as follows: | ||
CHAPTER 2214. TEXAS TORNADO AND WILDFIRE INSURANCE ASSOCIATION | ||
SUBCHAPTER A. GENERAL PROVISIONS | ||
Sec. 2214.001. PURPOSE. The primary purpose of the Texas | ||
Tornado and Wildfire Insurance Association is the provision of an | ||
adequate market for property insurance to provide coverage for | ||
losses from tornado and wildfire in this state. The legislature | ||
finds that the provision of adequate tornado and wildfire insurance | ||
is necessary to the economic welfare of this state, and without that | ||
insurance, the orderly growth and development of this state would | ||
be severely impeded. This chapter provides a method by which | ||
adequate tornado and wildfire insurance may be obtained in this | ||
state. The association is intended to serve as a residual insurer | ||
of last resort for tornado and wildfire insurance in this state. | ||
The association shall: | ||
(1) function in such a manner as to not be a direct | ||
competitor in the private market; and | ||
(2) provide tornado and wildfire insurance coverage to | ||
those who are unable to obtain that coverage in the private market. | ||
Sec. 2214.002. SHORT TITLE; COVERAGE AVAILABLE. (a) This | ||
chapter may be cited as the Texas Tornado and Wildfire Insurance | ||
Association Act. | ||
(b) This chapter authorizes the association to issue only | ||
tornado and wildfire insurance. | ||
Sec. 2214.003. GENERAL DEFINITIONS. In this chapter, | ||
unless the context clearly indicates otherwise: | ||
(1) "Association" means the Texas Tornado and Wildfire | ||
Insurance Association. | ||
(2) "Board of directors" means the board of directors | ||
of the association. | ||
(3) "Net direct premium" means gross direct written | ||
premium less return premium on each canceled contract, regardless | ||
of assumed or ceded reinsurance, that is written on property in this | ||
state, as defined by the board of directors. | ||
(4) "Plan of operation" means the plan adopted under | ||
this chapter for the operation of the association. | ||
(5) "Tornado and wildfire insurance" means deductible | ||
insurance against: | ||
(A) direct loss to insurable property incurred as | ||
a result of tornado or wildfire, as those terms are defined and | ||
limited in policies and forms approved by the department; and | ||
(B) indirect losses resulting from the direct | ||
loss. | ||
(6) "Wildfire" means an uncontrolled blaze fueled by | ||
weather, wind, and dry underbrush, trees, grasses, or other | ||
flammable material. | ||
Sec. 2214.004. DEFINITION OF INSURABLE PROPERTY. For | ||
purposes of this chapter and subject to this section, "insurable | ||
property" has the meaning assigned by the plan of operation. | ||
Sec. 2214.005. DESIGNATION AS CATASTROPHE AREA; REVOCATION | ||
OF DESIGNATION. An area of this state may be designated as a | ||
catastrophe area in the plan of operation. The commissioner by rule | ||
may revoke the designation. | ||
Sec. 2214.006. APPLICABILITY OF CHAPTER TO CERTAIN | ||
INSURERS. (a) Except as provided by Subsection (b), this chapter | ||
applies to each insurer authorized to engage in the business of | ||
property insurance in this state, including a county mutual | ||
insurance company, a Lloyd's plan, and a reciprocal or | ||
interinsurance exchange. | ||
(b) This chapter does not apply to: | ||
(1) a farm mutual insurance company operating under | ||
Chapter 911; | ||
(2) a nonaffiliated county mutual fire insurance | ||
company described by Section 912.310 that is writing exclusively | ||
industrial fire insurance policies as described by Section | ||
912.310(a)(2); or | ||
(3) a mutual insurance company or a statewide mutual | ||
assessment company engaged in business under Chapter 12 or 13, | ||
Title 78, Revised Statutes, respectively, before those chapters' | ||
repeal by Section 18, Chapter 40, Acts of the 41st Legislature, 1st | ||
Called Session, 1929, as amended by Section 1, Chapter 60, General | ||
Laws, Acts of the 41st Legislature, 2nd Called Session, 1929, that | ||
retains the rights and privileges under the repealed law to the | ||
extent provided by those sections. | ||
Sec. 2214.007. DEPARTMENT ORDERS; GENERAL RULEMAKING | ||
AUTHORITY. (a) The commissioner may issue any orders that the | ||
commissioner considers necessary to implement this chapter. | ||
(b) The commissioner may adopt rules in the manner | ||
prescribed by Subchapter A, Chapter 36, as reasonable and necessary | ||
to implement this chapter. | ||
Sec. 2214.008. LIST OF PRIVATE INSURERS; INCENTIVE PLAN. | ||
(a) The department shall maintain a list of all insurers that | ||
engage in the business of property and casualty insurance in the | ||
voluntary market in this state. | ||
(b) The department shall develop incentive programs to | ||
encourage authorized insurers to write insurance on a voluntary | ||
basis and to minimize the use of the association as a means to | ||
obtain insurance. | ||
SUBCHAPTER B. ADMINISTRATION OF THE ASSOCIATION | ||
Sec. 2214.051. COMPOSITION OF ASSOCIATION; REQUIRED | ||
MEMBERSHIP. (a) The association is composed of all property | ||
insurers authorized to engage in the business of property insurance | ||
in this state, other than insurers prevented by law from writing on | ||
a statewide basis coverages available through the association. | ||
(b) As a condition of the insurer's authority to engage in | ||
the business of insurance in this state, each insurer subject to | ||
Subsection (a) must be a member of the association and must remain a | ||
member for the duration of the association's existence. An insurer | ||
that ceases to be a member of the association remains liable on | ||
insurance contracts entered into during the insurer's membership in | ||
the association to the same extent and effect as if the insurer's | ||
membership in the association had not been terminated. | ||
(c) An insurer that becomes authorized to write and is | ||
engaged in writing insurance that requires the insurer to be a | ||
member of the association shall become a member of the association | ||
on the January 1 following the effective date of that | ||
authorization. The determination of the insurer's participation in | ||
the association is made as of the date of the insurer's membership | ||
in the manner used to determine participation for all other members | ||
of the association. | ||
Sec. 2214.052. MEMBER PARTICIPATION IN ASSOCIATION. (a) | ||
Each member of the association shall participate in insured losses | ||
and operating expenses of the association, in excess of premium and | ||
other revenue of the association, in the proportion that the net | ||
direct premiums of that member during the preceding calendar year | ||
bears to the aggregate net direct premiums by all members of the | ||
association, as determined using the information provided under | ||
Subsection (b). | ||
(b) The department shall review annual statements, other | ||
reports, and other statistics that the department considers | ||
necessary to obtain the information required under Subsection (a) | ||
and shall provide that information to the association. The | ||
department is entitled to obtain the annual statements, other | ||
reports, and other statistics from any member of the association. | ||
(c) Each member's participation in the association shall be | ||
determined annually in the manner provided by the plan of | ||
operation. For purposes of determining participation in the | ||
association, two or more members that are subject to common | ||
ownership or that operate in this state under common management or | ||
control shall be treated as a single member. The determination | ||
shall also include the net direct premiums of an affiliate that is | ||
under that common management or control, including an affiliate | ||
that is not authorized to engage in the business of property | ||
insurance in this state. | ||
(d) Notwithstanding Subsection (a), a member, in accordance | ||
with the plan of operation, is entitled to receive credit for | ||
similar insurance voluntarily written in areas designated by the | ||
commissioner. The member's participation in the insured losses and | ||
operating expenses of the association in excess of premium and | ||
other revenue of the association shall be reduced in accordance | ||
with the plan of operation. | ||
(e) Notwithstanding Subsections (a)-(d), an insurer that | ||
becomes a member of the association and that has not previously been | ||
a member of the association is not subject to participation in any | ||
insured losses and operating expenses of the association in excess | ||
of premium and other revenue of the association until the second | ||
anniversary of the date on which the insurer first becomes a member | ||
of the association. | ||
Sec. 2214.053. OPERATION OF ASSOCIATION. The association | ||
shall operate in accordance with the plan of operation. | ||
Sec. 2214.054. ANNUAL STATEMENT. (a) The association | ||
shall file annually with the department and the state auditor's | ||
office a statement covering periods designated by the department | ||
that summarizes the transactions, conditions, operations, and | ||
affairs of the association during the preceding year. | ||
(b) The statement must: | ||
(1) be filed at times designated by the department; | ||
(2) contain the information prescribed by the | ||
department; and | ||
(3) be in the form prescribed by the department. | ||
Sec. 2214.055. USE OF ASSOCIATION ASSETS. (a) The | ||
association's net earnings may only be used in accordance with the | ||
plan of operation. | ||
(b) On dissolution of the association, all assets of the | ||
association, other than assets pledged for the repayment of public | ||
securities issued under this chapter, revert to this state. | ||
Sec. 2214.056. EXAMINATION OF ASSOCIATION. (a) The | ||
association is subject to Sections 401.051, 401.052, | ||
401.054-401.062, 401.151, 401.152, 401.155, and 401.156 and | ||
Subchapter A, Chapter 86. | ||
(b) A final examination report of the association resulting | ||
from an examination as provided by this section is a public record | ||
and is available to the public at the offices of the department in | ||
accordance with Chapter 552, Government Code. | ||
Sec. 2214.057. AUDIT OF ASSOCIATION. (a) The association | ||
is subject to audit by the state auditor and shall pay the costs | ||
incurred by the state auditor in performing an audit under this | ||
section. | ||
(b) The association shall pay the costs described by | ||
Subsection (a) promptly after receipt of a statement from the state | ||
auditor's office regarding the amount of those costs. | ||
Sec. 2214.058. CLAIMS PRACTICES AUDIT. The commissioner, | ||
in the manner and at the time the commissioner determines to be | ||
necessary, may conduct a random audit of claim files concerning | ||
claims the bases of which are damage to property insured under this | ||
chapter. | ||
SUBCHAPTER C. PAYMENT OF LOSSES | ||
Sec. 2214.101. PAYMENT OF LOSSES. The association shall | ||
pay insured losses and operating expenses of the association from | ||
premium and other revenue of the association in accordance with the | ||
plan of operation. | ||
Sec. 2214.102. ASSESSMENTS. (a) Losses not paid under | ||
Section 2214.101 shall be paid from member insurer assessments. | ||
(b) A member of the association may not recoup an assessment | ||
paid under this subsection through a premium surcharge or tax | ||
credit. | ||
SUBCHAPTER D. BOARD OF DIRECTORS; POWERS AND DUTIES | ||
Sec. 2214.151. ACCOUNTABLE TO COMMISSIONER. The board of | ||
directors is responsible and accountable to the commissioner. | ||
Sec. 2214.152. COMPOSITION. (a) The board of directors is | ||
composed of nine members appointed by the commissioner. | ||
(b) All members must have demonstrated experience in | ||
insurance, general business, or actuarial principles sufficient to | ||
make the success of the association probable. | ||
Sec. 2214.153. TERMS. (a) Members of the board of | ||
directors serve six-year staggered terms, with the terms of three | ||
members expiring on February 1 of each odd-numbered year. | ||
(b) A person may serve on the board of directors for not more | ||
than three consecutive full terms, not to exceed 18 years. | ||
(c) A member of the board of directors may be removed by the | ||
commissioner with cause stated in writing and posted on the | ||
association's Internet website. The commissioner shall appoint the | ||
replacement for a director who leaves or is removed from the board | ||
of directors. | ||
Sec. 2214.154. OFFICERS. The board of directors shall | ||
elect from the board's membership an executive committee consisting | ||
of a presiding officer, assistant presiding officer, and | ||
secretary-treasurer. | ||
Sec. 2214.155. MEETINGS. (a) Except for an emergency | ||
meeting, the association shall call and conduct its meetings in | ||
accordance with the plan of operation. | ||
(b) Except for a closed meeting authorized by Subchapter D, | ||
Chapter 551, Government Code, a meeting of the board of directors or | ||
of the members of the association is open to the public. | ||
(c) Notice of a meeting of the board of directors or the | ||
association must be given as provided by Chapter 551, Government | ||
Code. | ||
Sec. 2214.156. OPEN MEETINGS AND OPEN RECORDS. (a) Except | ||
as specifically provided by this chapter or another law, the board | ||
of directors and the association are subject to Chapters 551 and | ||
552, Government Code. | ||
(b) A settlement agreement to which the association is a | ||
party is public information and is not exempted from required | ||
disclosure under Chapter 552, Government Code. | ||
(c) Subsection (b) may not be construed to limit or | ||
otherwise restrict the categories of information that are public | ||
information under Section 552.022, Government Code. | ||
SUBCHAPTER E. PLAN OF OPERATION | ||
Sec. 2214.201. ADOPTION OF PLAN OF OPERATION. With the | ||
advice of the board of directors, the commissioner by rule shall | ||
adopt the plan of operation to provide tornado and wildfire | ||
insurance in this state. | ||
Sec. 2214.202. CONTENTS OF PLAN OF OPERATION. (a) The plan | ||
of operation must: | ||
(1) provide for the efficient, economical, fair, and | ||
nondiscriminatory administration of the association; and | ||
(2) include other provisions as considered necessary | ||
by the department to implement the purposes of this chapter. | ||
(b) The plan of operation may provide for liability limits | ||
for an insured structure and for the corporeal movable property | ||
located in the structure. | ||
Sec. 2214.203. AMENDMENTS TO PLAN OF OPERATION. (a) The | ||
association may present a recommendation for a change in the plan of | ||
operation to the department at: | ||
(1) periodic hearings conducted by the department for | ||
that purpose; or | ||
(2) hearings relating to property and casualty | ||
insurance rates. | ||
(b) The association must present a proposed change to the | ||
department in writing in the manner prescribed by the commissioner. | ||
A proposed change does not take effect unless adopted by the | ||
commissioner by rule. | ||
(c) An interested person may, in accordance with Chapter | ||
2001, Government Code, petition the commissioner to modify the plan | ||
of operation. | ||
SUBCHAPTER F. INSURANCE COVERAGE; APPLICATION AND INSPECTION | ||
Sec. 2214.251. DEFINITION OF INSURABLE INTEREST. In this | ||
subchapter, "insurable interest" includes any lawful and | ||
substantial economic interest in the safety or preservation of | ||
property from loss, destruction, or pecuniary damage. | ||
Sec. 2214.252. APPLICATION FOR COVERAGE. (a) A person who | ||
has an insurable interest in insurable property may apply to the | ||
association for insurance coverage provided under the plan of | ||
operation and an inspection of the property, subject to any rules | ||
established by the board of directors and approved by the | ||
commissioner. The association shall make insurance available in | ||
accordance with the plan of operation to each applicant in this | ||
state whose property is insurable property but who, after diligent | ||
efforts, is unable to obtain property insurance through the | ||
voluntary market, as evidenced by one declination from an insurer | ||
authorized to engage in the business of, and writing, property | ||
insurance providing tornado and wildfire coverage in this state. | ||
(b) A property and casualty agent must submit an application | ||
for initial insurance coverage on behalf of the applicant on forms | ||
prescribed by the association. The association shall develop a | ||
simplified renewal process that allows for the acceptance of an | ||
application for renewal coverage, and payment of premiums, from a | ||
property and casualty agent or a person insured under this chapter. | ||
An application for initial or renewal coverage must comply with the | ||
requirements of the plan of operation. | ||
Sec. 2214.253. ISSUANCE OF COVERAGE; TERM; RENEWAL. (a) If | ||
the association determines that the property for which an | ||
application for initial insurance coverage is made is insurable | ||
property, the association, on payment of the premium, shall direct | ||
the issuance of an insurance policy as provided by the plan of | ||
operation. | ||
(b) A policy issued under this section is for a one-year | ||
term. | ||
(c) A policy may be renewed annually on application for | ||
renewal as long as the property continues to be insurable property. | ||
(d) The commissioner, after receiving a recommendation from | ||
the board of directors, shall approve a commission structure for | ||
payment of an agent who submits an application for coverage to the | ||
association on behalf of a person who has an insurable interest in | ||
insurable property. The commission structure adopted by the | ||
commissioner must be fair and reasonable, taking into consideration | ||
the amount of work performed by an agent in submitting an | ||
application to the association and the prevailing commission | ||
structure in the private insurance market. | ||
Sec. 2214.254. CANCELLATION OF CERTAIN COVERAGE. (a) An | ||
agent or insured may request cancellation of the insurance coverage | ||
by: | ||
(1) returning the policy, with proof that the insured | ||
was notified of the return; or | ||
(2) requesting the association to cancel the insurance | ||
coverage by a notice mailed to the insured and to any others shown | ||
in the policy as having an insurable interest in the property. | ||
(b) On completion of cancellation under Subsection (a), the | ||
association shall refund the unearned premium, less any minimum | ||
retained premium set forth in the plan of operation, to the person, | ||
firm, or corporation to whom the unpaid balance is due. | ||
(c) If an insured requests cancellation of the insurance | ||
coverage, the association shall refund the unearned premium, less | ||
any minimum retained premium set forth in the plan of operation, | ||
payable to the insured and the holder of an unpaid balance. The | ||
property and casualty agent who received a commission as the result | ||
of the issuance of an association policy providing the canceled | ||
coverage shall refund the agent's commission on any unearned | ||
premium in the same manner. | ||
Sec. 2214.255. POLICY PROVISIONS. A tornado and wildfire | ||
insurance policy issued by the association must comply with the | ||
requirements of the plan of operation. | ||
Sec. 2214.256. INSPECTION REQUIREMENT. (a) To be | ||
considered insurable property eligible for insurance coverage from | ||
the association, a structure must be inspected or approved by the | ||
department for compliance with the plan of operation. | ||
(b) The department shall issue a certificate of compliance | ||
for each structure that qualifies for coverage. The certificate is | ||
evidence of insurability of the structure by the association. The | ||
decision whether to issue a certificate of compliance for a | ||
structure is wholly within the discretion of the department. | ||
(c) The department may enter into agreements and contracts | ||
as necessary to implement this section. | ||
(d) The department may charge reasonable fees to cover the | ||
cost of implementing this section. | ||
SUBCHAPTER G. RATES | ||
Sec. 2214.301. ASSOCIATION FILINGS. (a) The association | ||
must file with the department each manual of classifications, | ||
rules, rates, including condition charges, and each rating plan, | ||
and each modification of those items that the association proposes | ||
to use. | ||
(b) A filing under this section must indicate the character | ||
and the extent of the coverage contemplated and must be accompanied | ||
by the policy and endorsement forms proposed to be used. The forms | ||
may be designed specifically for use by the association without | ||
regard to other forms filed with, approved by, or prescribed by the | ||
department for use in this state. | ||
(c) As soon as reasonably possible after the filing has been | ||
made, the commissioner in writing shall approve or disapprove the | ||
filing. A filing is considered approved unless disapproved on or | ||
before the 30th day after the date of the filing. If the | ||
commissioner disapproves a filing, the commissioner shall state in | ||
writing the reasons for the disapproval and the criteria the | ||
association is required to meet to obtain approval. | ||
(d) The department shall value the loss and loss adjustment | ||
expense data to be used for a filing not earlier than March 31 of the | ||
year before the year in which the filing is to be made. | ||
Sec. 2214.302. MANUAL RATE FILINGS: ANNUAL FILING. (a) Not | ||
later than August 15 of each year, the association shall file with | ||
the department a proposed manual rate for all types and classes of | ||
risks written by the association. | ||
(b) Before approving or disapproving a filing under this | ||
section, the commissioner shall provide all interested persons a | ||
reasonable opportunity to: | ||
(1) review the filing; | ||
(2) obtain copies of the filing on payment of any | ||
legally required copying cost; and | ||
(3) submit to the commissioner written comments or | ||
information related to the filing. | ||
(c) The commissioner shall approve or disapprove the filing | ||
in writing not later than October 15 of the year in which the filing | ||
was made. If the filing is not approved or disapproved on or before | ||
that date, the filing is considered approved. | ||
(d) If the commissioner disapproves a filing, the | ||
commissioner shall state in writing the reasons for the disapproval | ||
and the criteria the association is required to meet to obtain | ||
approval. | ||
Sec. 2214.303. MANUAL RATE FILINGS: AMENDED ANNUAL FILING. | ||
(a) Not later than the 30th day after the date the association | ||
receives the commissioner's written disapproval under Section | ||
2214.302, the association may file with the commissioner an amended | ||
annual filing that conforms to all criteria stated in that written | ||
disapproval. | ||
(b) Not later than the 30th day after the date an amended | ||
filing made under Subsection (a) is received, the commissioner | ||
shall approve or disapprove the amended filing. If the filing is | ||
not disapproved on or before the 30th day after the date of receipt, | ||
the filing is considered approved. If the commissioner disapproves | ||
a filing, the commissioner shall state in writing the reasons for | ||
the disapproval and the criteria the association is required to | ||
meet to obtain approval. | ||
(c) Before approving or disapproving an amended annual | ||
filing under this section, the commissioner shall, in the manner | ||
provided by Section 2214.302, provide all interested persons a | ||
reasonable opportunity to: | ||
(1) review the amended annual filing; | ||
(2) obtain copies of the amended annual filing on | ||
payment of any legally required copying cost; and | ||
(3) submit to the commissioner written comments or | ||
information related to the amended annual filing. | ||
Sec. 2214.304. MANUAL RATE FILINGS: ADDITIONAL SUPPORTING | ||
INFORMATION. (a) In conjunction with the review of a filing under | ||
Section 2214.302: | ||
(1) the commissioner may request the association to | ||
provide additional supporting information relating to the filing; | ||
and | ||
(2) any interested person may file a written request | ||
with the commissioner, during a period specified by the | ||
commissioner by rule, for additional supporting information | ||
relating to the filing. | ||
(b) A request under this section must be reasonable and must | ||
be directly related to the filing. | ||
(c) The commissioner shall submit to the association all | ||
requests for additional supporting information made under this | ||
section for the commissioner's use and the use of any interested | ||
person not later than the 21st day after the date of receipt of the | ||
filing. | ||
(d) Unless a different period is requested by the | ||
association and approved by the commissioner, the association shall | ||
provide the information to the commissioner not later than the | ||
fifth day after the date the written request for additional | ||
supporting information is delivered to the association. | ||
Sec. 2214.305. GENERAL RATE REQUIREMENTS; RATE STANDARDS. | ||
(a) Rates for coverage under this chapter must be made in | ||
accordance with the plan of operation. | ||
(b) Rates must be reasonable, adequate, not unfairly | ||
discriminatory, and nonconfiscatory as to any class of insurer. | ||
(c) For the establishment of rates and minimum premiums, the | ||
risks may be grouped by classification. | ||
(d) A commission paid to an agent for a tornado and wildfire | ||
insurance policy issued by the association must comply with the | ||
commission structure established in the plan of operation and be | ||
reasonable, adequate, not unfairly discriminatory, and | ||
nonconfiscatory. | ||
(e) The association may establish rating territories and | ||
may vary rates among the territories as provided by the plan of | ||
operation. | ||
Sec. 2214.306. RATE CLASSIFICATIONS. All premiums written | ||
and losses paid under this chapter, as appropriate, must be | ||
included in applicable classifications for general ratemaking | ||
purposes. | ||
SUBCHAPTER H. LIABILITY LIMITS | ||
Sec. 2214.351. MAXIMUM LIABILITY LIMITS. The maximum | ||
liability limits under a tornado and wildfire insurance policy | ||
issued by the association under this chapter are established by the | ||
plan of operation and may be adjusted by amendment to the plan of | ||
operation. | ||
SECTION 2. (a) The governor shall appoint the members of | ||
the board of directors of the Texas Tornado and Wildfire Insurance | ||
Association under Chapter 2214, Insurance Code, as added by this | ||
Act, effective November 1, 2019. The initial directors shall draw | ||
lots to achieve staggered terms, with three of the directors | ||
serving two-year terms, three of the directors serving four-year | ||
terms, and three of the directors serving six-year terms. | ||
(b) The plan of operation adopted under Chapter 2214, | ||
Insurance Code, as added by this Act, must provide that the Texas | ||
Tornado and Wildfire Insurance Association issue insurance | ||
policies under that chapter not later than January 1, 2020. | ||
(c) The commissioner of insurance shall adopt rules | ||
necessary to ensure that the Texas Tornado and Wildfire Insurance | ||
Association issue insurance policies under Chapter 2214, Insurance | ||
Code, as added by this Act, not later than January 1, 2020. | ||
SECTION 3. 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, 2019. |