Sec. 4051.360. REVISION OF TERMINATION PROVISIONS OF AGENT'S CONTRACT. (a) This subchapter does not prohibit an amendment of or addendum to an agent's contract providing that the contract may be terminated before the time required by this subchapter if the agent agrees in writing to the earlier termination.
(b) An insurer that proposes to revise the termination provisions of an agent's contract must first present the agent with a separate written impact statement that summarizes any effect that the proposed amendment or addendum would have on the agent's rights under this subchapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Chapter 4051 - Property and Casualty Agents
Subchapter H. Termination or Suspension of Agent Contracts by Property and Casualty Insurers
Section 4051.351. Applicability of Subchapter
Section 4051.352. Suspension of Agent's Contract; Other Definitions
Section 4051.353. Notice Required Before Termination or Suspension of Contract
Section 4051.355. Renewal of Insurance Contracts After Notice of Termination or Suspension
Section 4051.356. Insurer Refusal to Renew Agent's Business Prohibited
Section 4051.357. Insurer Approval for New Business or Increase in Liability
Section 4051.359. Payment of Money Due Insurer
Section 4051.360. Revision of Termination Provisions of Agent's Contract