Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
  89R24767 SCR-D     By: Dean H.B. No. 5173     Substitute the following for H.B. No. 5173:     By:  Dean C.S.H.B. No. 5173       A BILL TO BE ENTITLED   AN ACT   relating to annual statistical reports for fixing title insurance   premium rates.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2703.153, Insurance Code, is amended by   adding Subsections (a-1) and (c-1) to read as follows:           (a-1)     The department shall issue a call for the statistical   report data required under Subsection (a):                 (1)     to each title insurance agent, not later than   March 1 of each year for a statistical report due to the department   on May 1; and                 (2)     to each title insurance company, not later than   April 1 of each year for a statistical report due to the department   on June 1.           (c-1)     The department shall publish on the department's   Internet website a compilation report summarizing the statistical   reports submitted under Subsection (a), including information   related to loss experience, expense of operation, premiums, and   other material matters:                 (1)     from all title insurance agents, not later than   October 1 of each year; and                 (2)     from all title insurance companies, not later than   November 1 of each year.          SECTION 2.  The Texas Department of Insurance shall issue a   call for the reports required by Section 2703.153, Insurance Code,   as amended by this Act, as soon as practicable after the effective   date of this Act.  A title insurance company or a title insurance   agent may continue to charge the premium rates in effect on the   effective date of this Act until new rates are fixed using data from   the reports provided under this section.          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, 2025.