Bill Text: TX HB2920 | 2021-2022 | 87th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Relating to a grace period for payment of premiums on insurance policies renewed by the Texas Windstorm Insurance Association.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2021-06-07 - Effective on 9/1/21 [HB2920 Detail]

Download: Texas-2021-HB2920-Comm_Sub.html

---

By: Lozano (Senate Sponsor - Hancock) H.B. No. 2920
(In the Senate - Received from the House April 19, 2021;
May 4, 2021, read first time and referred to Committee on Business &
Commerce; May 13, 2021, reported favorably by the following vote:
Yeas 8, Nays 0; May 13, 2021, sent to printer.)
Click here to see the committee vote

A BILL TO BE ENTITLED
AN ACT
relating to a grace period for payment of premiums on insurance
policies renewed by the Texas Windstorm Insurance Association.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2210.203, Insurance Code, is amended by
adding Subsection (c-1) to read as follows:
(c-1) With the advice of the association, the commissioner
shall adopt rules establishing a grace period of not more than 10
days after the due date for the receipt of payment of premium for
the renewal of a policy.
SECTION 2. Not later than June 1, 2022, the commissioner of
insurance, with the advice of the Texas Windstorm Insurance
Association, shall adopt rules as required by Section
2210.203(c-1), Insurance Code, as added by this Act.
SECTION 3. This Act takes effect September 1, 2021.
* * * * *