Bill Text: TX SB1702 | 2013-2014 | 83rd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to residential property insured by the Texas Windstorm Insurance Association.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2013-06-14 - Effective immediately [SB1702 Detail]
Download: Texas-2013-SB1702-Comm_Sub.html
Bill Title: Relating to residential property insured by the Texas Windstorm Insurance Association.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2013-06-14 - Effective immediately [SB1702 Detail]
Download: Texas-2013-SB1702-Comm_Sub.html
By: Taylor | S.B. No. 1702 | |
(In the Senate - Filed March 8, 2013; March 18, 2013, read | ||
first time and referred to Committee on Business and Commerce; | ||
March 28, 2013, reported adversely, with favorable Committee | ||
Substitute by the following vote: Yeas 9, Nays 0; March 28, 2013, | ||
sent to printer.) | ||
COMMITTEE SUBSTITUTE FOR S.B. No. 1702 | By: Taylor |
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relating to residential property insured by the Texas Windstorm | ||
Insurance Association. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subsection (f), Section 2210.251, Insurance | ||
Code, is amended to read as follows: | ||
(f) Notwithstanding any other provision of this section, | ||
insurance coverage for a residential structure [ |
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inspection requirements imposed under Section 2210.258, if | ||
applicable. | ||
SECTION 2. Section 2210.258, Insurance Code, is amended to | ||
read as follows: | ||
Sec. 2210.258. [ |
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ELIGIBILITY. (a) Except as provided by Subsection (c) and | ||
notwithstanding [ |
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chapter, to be eligible for insurance through the association, all | ||
construction, alteration, remodeling, enlargement, and repair of, | ||
or addition to, any structure located in the catastrophe area that | ||
is begun on or after the effective date of Sections 5 through 49, | ||
H.B. No. 4409, Acts of the 81st Legislature, Regular Session, 2009, | ||
must be performed in compliance with the applicable building code | ||
standards, as set forth in the plan of operation. | ||
(b) Except as provided by Subsection (c), the [ |
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association may not insure a structure described by Subsection (a) | ||
until: | ||
(1) the structure has been inspected for compliance | ||
with the plan of operation in accordance with Section 2210.251(a); | ||
and | ||
(2) a certificate of compliance has been issued for | ||
the structure in accordance with Section 2210.251(g). | ||
(c) The association may insure a residential structure | ||
constructed, altered, remodeled, enlarged, repaired, or added to on | ||
or after June 19, 2009, that is not in compliance with the | ||
applicable building code standards, as set forth in the plan of | ||
operation, provided that the structure had been insured on or after | ||
that date by an insurer in the private market who canceled or | ||
nonrenewed the insurance coverage of the structure before September | ||
1, 2013, and no construction, alteration, remodeling, enlargement, | ||
or repair of or addition to the structure occurs after cancellation | ||
or nonrenewal of the coverage and before submission of an | ||
application for coverage through the association. | ||
SECTION 3. Subsection (a), Section 2210.259, Insurance | ||
Code, is amended to read as follows: | ||
(a) A new or renewal insurance policy insuring a | ||
noncompliant residential structure under Section 2210.251(f) | ||
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subject to an annual premium surcharge in an amount equal to 15 | ||
percent of the premium for insurance coverage obtained through the | ||
association. The surcharge under this subsection applies to each | ||
policy issued or renewed by the association on or after the | ||
effective date of Sections 5 through 49, H.B. No. 4409, Acts of the | ||
81st Legislature, Regular Session, 2009, and is due on the issuance | ||
or renewal of the policy. | ||
SECTION 4. Section 2210.260, Insurance Code, is repealed. | ||
SECTION 5. 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, 2013. | ||
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