Bill > HB5586

This bill modifies the rules for meetings of the Texas Windstorm Insurance Association's (TWIA) board of directors by requiring two specific annual meetings - the probable maximum loss (PML) meeting and the annual rate setting meeting - to be held in-person within a first tier coastal county. Additionally, the bill stipulates that votes cast during these meetings will only count towards establishing the PML or adopting the annual rate filing if they are made in person by board members physically present at the meeting. This means that remote or virtual voting will not be considered valid for these critical financial and rate-setting decisions. The bill is designed to ensure more direct, face-to-face deliberation and decision-making for these important insurance association meetings. The legislation will take effect immediately if it receives a two-thirds vote in the Texas Legislature, or otherwise will become effective on September 1, 2025.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB5586