Tx state dating laws
The 14th Legislature in 1874 passed a law regulating the life and health insurance business in the areas of company formation, activities and coverage.
Until the 1876 State Constitution was adopted, Texas insurance corporations were created by special act in the various state legislative sessions.All duties relating to agriculture were taken out of the old department, which was now renamed Department of Insurance and Banking.Interestingly, the law did not dispose of the functions dealing with statistics and history.Return to top When the 15th Legislature met in 1876, it took advantage of the authorization given to it by the 1876 constitution and created the Department of Insurance, Statistics and History.In addition to his insurance-related duties, the commissioner was charged with keeping information and statistics on the state's population, wealth and general resources. And to make sure that he would not waste his spare time, he was made state librarian and superintendent of public grounds and buildings, as well.Two years earlier, the state had made its first effort to regulate the insurance business in Texas.
The state's economy and population were growing, and wildcat insurance schemes were common.
The Board was composed of the Commissioner of Insurance and Banking – serving as chair of the Board – and two appointed members. Just three years later, in 1913, the State Insurance Board's name was changed to the State Fire Insurance Commission and its authority broadened.
All the while, insurance and banking functions were kept together under one agency, despite repeated urging by the commissioner dating back to 1914 to separate them into two new agencies.
The first two commissioners of insurance and banking were attorneys with experience in both fields. Love would later serve in the State Senate and William E.
Hawkins would later serve on the Supreme Court of Texas.
There was, however, no insurance department in existence at that time.