Texas Insurance Code - Not Codified - Article 5.31. Change Or Limit Of Rate
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Art. 5.31. CHANGE OR LIMIT OF RATE. (a) Said Board shall
have full power and authority to alter, amend, modify or change any
rate fixed and determined by it on thirty (30) days' notice, or to
prescribe that any such rate or rates shall be in effect for a
limited time, and said Board shall also have full power and
authority to prescribe reasonable rules whereby in cases where no
rate of premium shall have been fixed and determined by the Board,
for certain risks or classes of risks, policies may be written
thereon at rates to be determined by the company. Such company or
companies shall immediately report to said Board such risk so
written, and the rates collected therefor, and such rates shall
always be subject to review by the Board.
(b) Notwithstanding Subsection (a) of this article, on and
after the effective date of S.B. 14, Acts of the 78th Legislature,
Regular Session, 2003, rates for homeowners and residential fire
and residential allied lines insurance coverage under this
subchapter are determined as provided by Subchapter Q of this
chapter, and rates for other lines of insurance subject to this
subchapter are determined as provided by Article 5.13-2 of this
code, except that on and after December 1, 2004, rates for all lines
of insurance subject to this subchapter are determined as provided
by Article 5.13-2 of this code.
Acts 1951, 52nd Leg., ch. 491.
Amended by Acts 1991, 72nd Leg., ch. 242, Sec. 2.30, eff. Sept. 1,
1991; Subsec. (b) amended by Acts 1991, 72nd Leg., 2nd C.S., ch.
12, Sec. 8.16, eff. Jan. 1, 1992; amended by Acts 1995, 74th Leg.,
ch. 984, Sec. 19, eff. Sept. 1, 1995; Subsec. (b) amended by Acts
1997, 75th Leg., ch. 1330, Sec. 9, eff. Sept. 1, 1997; Subsec. (b)
amended by Acts 2003, 78th Leg., ch. 206, Sec. 21.19, eff. June 11,
2003.
Article: 5.25-3 5.26 5.27 5.28 5.29 5.30 5.31 5.32 5.33 5.33B 5.33B, ante
Art 5.34 5.35 5.35-1
Last modified: August 11, 2007
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