SB 945

relating to the adoption of political shareholder proposals by
insurers and insurer holding companies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1.  Subtitle A, Title 6, Insurance Code, is amended
by adding Chapter 806 to read as follows:
CHAPTER 806.  CONSIDERATION OF ENVIRONMENTAL, SOCIAL, OR POLITICAL
Sec. 806.001.  DEFINITIONS.  In this chapter:
(1)  "Holding company" and "insurer" have the meanings
(2)  "Political shareholder proposal" means a
shareholder proposal that seeks to directly or indirectly:
(A)  prohibit or limit an insurer's ability to
insure risks related to the exploration, production, utilization,
transportation, sale, or manufacturing of fossil fuel-based energy
solely because the risks are related to fossil fuel-based energy;
(B)  require or ask an insurer to reduce or track
greenhouse gas emissions, including the greenhouse gas emissions of
the insurer's insureds or of the entities in which the insurer
(C)  prohibit or limit an insurer's ability to
insure an entity involved in legal activity for the purpose of
achieving environmental, social, or political ends.
Sec. 806.002.  POLITICAL SHAREHOLDER PROPOSALS PROHIBITED.
An insurer or holding company organized under the laws of this state
(1)  include a political shareholder proposal in a
(2)  implement a political shareholder proposal.
SECTION 2.  This Act takes effect September 1, 2025.