HB4386

Signed by Governor
Authored by Trey Wharton (R)
View at Source

Caption: Relating to the replacement transactions of certain life insurance and annuity contracts from an insurer to a replacing insurer.
Initially Referred to House Insurance Committee, chaired by a Republican
Last Referred to Senate Business & Commerce Committee, chaired by a Republican
HB 4386 modifies the regulations surrounding life insurance and annuity contract replacements, requiring insurers to retain and produce replacement notifications for at least five years or until their next regulatory examination. The bill mandates that existing insurers notify policyholders of their right to receive policy information, including an in-force illustration or policy summary within five business days of a replacement notice. Additionally, when policyholders request to borrow, surrender, or withdraw from their policy, insurers must send separate notifications explaining the potential impact on policy values. If a transfer or surrender payment is not completed within 30 days, insurers must pay 18% annual interest on the unpaid amount until fully settled. The bill applies to insurance policies and annuity contracts transferred or surrendered on or after January 1, 2026.

Sponsors: Parker (R)

Mar 11, 2025


(H) Wharton signed onto the bill as Author
(H) Filed
 

Apr 1, 2025


(H) Read first time
(H) Referred to the House Insurance, chaired by a Republican
 

Apr 17, 2025


(H) Scheduled for public hearing on . . .
(H) Considered in public hearing
(H) Testimony taken/registration(s) recorded in committee
(H) Left pending in committee
 

Apr 24, 2025


(H) Considered in formal meeting
(H) Committee substitute considered in committee
(H) Reported favorably as substituted
 

Apr 29, 2025


(H) Comte report filed with Committee Coordinator
(H) Committee report distributed
(H) Committee report sent to Calendars
 

May 2, 2025


(H) Considered in Calendars
 

May 5, 2025


(H) Placed on General State Calendar
(H) Read 2nd time
(H) Passed to engrossment
 

May 6, 2025


(H) Read 3rd time
(H) Passed
(H) Record vote

RV#1467: Yea 145 (R 84, D 61) - Nay 1 (R 1, D 0)
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Yea - Alders; Allen; Anchia; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Bowers; Bryant; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, A.; Davis, Y.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, J.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, J.; Gonzalez, M.; Goodwin; Guerra; Guillen; Harless; Harris; Harris Davila; Harrison; Hefner; Hernandez; Hickland; Hinojosa; Holt; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, J.; Jones, V.; Kerwin; King; Kitzman; LaHood; Lalani; Lambert; Landgraf; Leach; Leo Wilson; Little; Longoria; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Manuel; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Meza; Money; Moody; Morales, C.; Morales, E.; Morales Shaw; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Raymond; Reynolds; Richardson; Rodriguez Ramos; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Toth; Troxclair; Turner; VanDeaver; Vasut; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Wu; Zwiener

Nay - Tinderholt

Absent - Garcia, L.; Hayes; Villalobos

Present, Not Voting - Burrows

Please note: the following statements by legislators do not affect the vote count that was recorded.

Denise Villalobos: "When Record No. 1467 was taken, my vote failed to register. I would have voted yes." (view other statements of vote for this Rep)

Tony Tinderholt: "When Record No. 1467 was taken, I was shown voting no. I intended to vote yes." (view other statements of vote for this Rep)

You can view which lawmakers have received money from a specific PAC
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(H) Statement(s) of vote recorded in Journal
(H) Reported engrossed
(S) Received from the House
 

May 7, 2025


(S) Read first time
(S) Referred to the Senate Business & Commerce, chaired by a Republican
 

May 13, 2025


(S) Scheduled for public hearing on . . .
(S) No action taken in committee
 

May 15, 2025


(S) Scheduled for public hearing on . . .
(S) Considered in public hearing
(S) Testimony taken in committee
(S) Left pending in committee
 

May 20, 2025


(S) Considered in public hearing
(S) Vote taken in committee
(S) Reported favorably as substituted
(S) Recommended for local & uncontested calendar
 

May 21, 2025


(S) Committee report printed and distributed
 

May 22, 2025


(S) Placed on intent calendar
(S) Rules suspended-Regular order of business
(S) Read 2nd time & passed to 3rd reading
(S) Vote recorded in Journal
(S) Three day rule suspended
(S) Record vote

20250522_HB4386_2R: Yea 31 (R 20, D 11) - Nay 0 (R 0, D 0)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Cook; Creighton; Eckhardt; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; King; Kolkhorst; Menendez; Middleton; Miles; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

You can view which lawmakers have received money from a specific PAC
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(S) Read 3rd time
(S) Passed

20250522_HB4386_3R: Yea 31 (R 20, D 11) - Nay 0 (R 0, D 0)

Yea - A. Hinojosa; Alvarado; Bettencourt; Birdwell; Blanco; Campbell; Cook; Creighton; Eckhardt; Flores; Gutierrez; Hagenbuch; Hall; Hancock; Huffman; Hughes; J. Hinojosa; Johnson; King; Kolkhorst; Menendez; Middleton; Miles; Nichols; Parker; Paxton; Perry; Schwertner; Sparks; West; Zaffirini

You can view which lawmakers have received money from a specific PAC
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(S) Record vote
(H) Senate passage as amended reported
(H) Senate Amendments distributed
(H) Senate Amendments Analysis distributed
 

May 28, 2025


(H) House concurs in Senate amendment(s)
(H) Record vote

RV#3949: Yea 135 (R 82, D 53) - Nay 0 (R 0, D 0)
View Source

Yea - Alders; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Bowers; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, A.; Davis, Y.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, L.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, J.; Gonzalez, M.; Goodwin; Guillen; Harless; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, J.; Jones, V.; King; Kitzman; LaHood; Lalani; Lambert; Landgraf; Leach; Leo Wilson; Little; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Manuel; Martinez; Martinez Fischer; McLaughlin; Metcalf; Meyer; Meza; Money; Moody; Morales, C.; Morales, E.; Morales Shaw; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Raymond; Reynolds; Richardson; Rodriguez Ramos; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Vasut; Villalobos; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Zwiener

Absent - Bryant; Garcia, J.; Holt; Luther; McQueeney; Wu

Present, Not Voting - Burrows

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(H) Text of Senate Amendment(s)
(S) House concurs in Senate amendment(s)-reported
 

May 29, 2025


(H) Reported enrolled
 

May 30, 2025


(H) Signed in the House
 

May 31, 2025


(S) Signed in the Senate
(E) Sent to the Governor
 


(H) Parker signed onto the bill as Sponsor

Lobbying Against/For/On This Bill

For

(Thu 4/17/2025) Testifying before H Insurance as Doug Traylor for self
(Thu 5/15/2025) Testifying before S Business & Commerce as Doug Traylor for self
(Thu 4/17/2025) Testifying before H Insurance as Jennifer Cawley for Texas Association of Life and Health Insurers
(Thu 5/15/2025) Testifying before S Business & Commerce as Jennifer Cawley for Texas Association of Life and Health Insurers
(Thu 4/17/2025) Registering before H Insurance as Jay Thompson for Talhi
(Thu 5/15/2025) Registering before S Business & Commerce as Jay Thompson for Talhi
(Thu 4/17/2025) Registering before H Insurance as Regan Ellmer for Independent Insurance Agents of Texas
(Thu 5/15/2025) Registering before S Business & Commerce as Regan Ellmer for Independent Insurance Agents of Texas
 

On

(Thu 4/17/2025) Registering before H Insurance as Jamie Walker for Texas Department of Insurance
(Thu 5/15/2025) Registering before S Business & Commerce as Jamie Walker for Texas Department of Insurance
(Thu 5/15/2025) Registering before S Business & Commerce as Steven Deline for self



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