Law:Title 5. Protection Of Consumer Interests. Subtitle C. Deceptive, Unfair, And Prohibited Practices from Chapter 553. Enforcement Of Insurance Policies Regarding Holocaust Victims (Texas)

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Subtitle C. Deceptive, Unfair, And Prohibited Practices

Contents

Chapter 553. Enforcement Of Insurance Policies Regarding Holocaust Victims

Section  553.001.  Definitions.

In this chapter:

(1)  "Holocaust victim" means a person who was killed or injured, or who lost financial assets or other property, as the result of discriminatory laws, policies, or actions directed against any discrete group of which the person was a member, during the period of 1920 to 1945, inclusive, in Germany, areas occupied by Germany, or countries allied with Germany.

(2)  "Insurance policy" includes:

(A)  a life insurance policy, an annuity, a property insurance policy, a casualty insurance policy, and a liability insurance policy; and

(B)  reinsurance on a risk covered under a policy described by Paragraph (A).

(3)  "Insurer" means an insurance company or other entity engaged in the business of insurance or reinsurance in this state. The term includes:

(A)  a capital stock company, a mutual company, or a Lloyd's plan; and

(B)  any parent, subsidiary, or affiliated company, at least 50 percent of the stock of which is in common ownership with an insurer engaged in the business of insurance in this state.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.



Section  553.002.  Suspension Of Limitations Period.

(a) Notwithstanding any other law, a Holocaust victim, or the heir, assignee, beneficiary, or successor of a Holocaust victim, who resides in this state and has a claim arising out of an insurance policy purchased or in effect in Europe before 1946 that was delivered, issued for delivery, or renewed by an insurer may bring an action in this state against an insurer to recover on that claim.

(b)  An action brought under this section before December 31, 2012, may not be dismissed for failure to comply with any applicable limitations period.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.



Section  553.003.  Violation By Insurer.

An insurer violates this chapter if the insurer fails to comply with a claim brought under this chapter by:

(1)  denying the claim on the grounds that the claim is not timely; or

(2)  asserting a statute of limitations defense in an action brought under Section 553.002.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.



Section  553.004.  Examination; Enforcement. (a) If The Commissi

oner considers it necessary, the commissioner may initiate an examination of an insurer under Sections 401.051, 401.052, and 401.054-401.062.

(b)  If the commissioner believes that an insurer is violating or has violated this chapter, the commissioner may:

(1)  impose a sanction under Chapter 82;

(2)  issue a cease and desist order under Chapter 83;

(3)  assess an administrative penalty under Chapter 84; or

(4)  refer the matter to the attorney general for appropriate enforcement.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 2D.014, eff. April 1, 2009.


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