HB 3306 (see companion bill SB 2122) – Texas

Status: Enacted
Year Introduced: 2019
Link: https://capitol.texas.gov/BillLookup/History.aspx?LegSess=86R&Bill=HB3306

Relating to the disclosure of information concerning the corporate governance structure of certain insurers and related entities; providing an administrative penalty. House Bill 3306 amends the Insurance Code to require certain insurers, or the insurance group of which the insurer is a member, to submit a corporate governance annual disclosure to the commissioner of insurance or to the commissioner of the lead state for the insurance group, as applicable. Among other provisions, the bill provides for the level of reporting, review, contents, and confidentiality of the disclosure. The bill subjects an insurer that, without good cause, fails to timely file the disclosure to an administrative penalty.


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