Bill Text: TX HB4404 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the marketing and sale of accidental death and dismemberment insurance coverage by financial institutions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-29 - Referred to Pensions, Investments & Financial Services [HB4404 Detail]
Download: Texas-2021-HB4404-Introduced.html
87R12130 MWC-D | ||
By: Sanford | H.B. No. 4404 |
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relating to the marketing and sale of accidental death and | ||
dismemberment insurance coverage by financial institutions. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subtitle Z, Title 3, Finance Code, is amended by | ||
adding Chapter 282 to read as follows: | ||
CHAPTER 282. MARKETING OR SALE OF CERTAIN INSURANCE PRODUCTS BY | ||
FINANCIAL INSTITUTIONS PROHIBITED | ||
Sec. 282.001. DEFINITION. In this chapter, "financial | ||
institution" has the meaning assigned by Section 201.101. | ||
Sec. 282.002. SALE OF CERTAIN INSURANCE PRODUCTS | ||
PROHIBITED. A financial institution may not market or sell | ||
accidental death and dismemberment insurance coverage to a person | ||
in this state. | ||
SECTION 2. Chapter 282, Finance Code, as added by this Act, | ||
applies only to an insurance policy that includes accidental death | ||
and dismemberment coverage that is delivered, issued for delivery, | ||
or renewed on or after January 1, 2022. | ||
SECTION 3. This Act takes effect September 1, 2021. |