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April 1, 1955 Dear Mr. Pooli Sincerely, CRE/js P. 3. Our 175 Association members derive our business from the insurance buying public, and want to see legislation on insurance that will benefit the policyholder who has a loss and who should be able to collect. We respectfully urge that this weakening amendment to the law be removed and that the bill be approved as it was originally introduced. The above has been unanimously approved by the Board of Directors of the Dallas Association of Insurance Agent; April 1, 1955* Chas. R. Eversole President Honorable Joe R. Pool House of Representatives Capitol Station Austin, Texas This was an amendment to Article 15.11 of Section 27 which makes it impossible, regardless of circumstances to assess members of mutual companies to pay losses of policyholders, once Commis ion approval has been obtained by mutual companies. This removes the main asset of a weak raitual comr.ai^j many tines the receiver of an insolvent mutual has been able to pay its claims in whole or part only through assessments on members. S. B, 15 ( now substituted for H. B. 173) was introduced as a bill in the public Interest, strengthening requirements for insurance companies. At that time our Association unanimously approved a Resolution in support of this bill. But in the course of its passage through the Senate an amendment was attached which weakens instead of strengthens the present law.
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