Rep. Trey Wharton introduced HB 4386, a bill on Insurance, to the Texas House on Tuesday, March 11 during the 89(R) legislative session, according to the Texas Legislature website.
More specifically, the official text was summarized by the state legislature as ’’relating to the exchange or surrender of an annuity contract’’.
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
This bill amends the Texas Insurance Code to establish procedures for the replacement, transfer, and surrender of certain life insurance and annuity contracts. It mandates that the existing insurer must acknowledge receipt of a replacement notice within five business days and fulfill the payment to the designated party within 30 days. For surrender requests, similar timelines apply. If payments are not completed within 30 days, an interest rate of 18% per annum on the unpaid amount will accrue starting from the 31st day. These amendments take effect on Sept. 1, 2025, and apply to contracts transferred or surrendered on or after Jan. 1, 2026.
Trey Wharton, a member of the House Committee on Corrections, proposed another eight bills during the 89(R) legislative session. He is also a member of the House Committee on Insurance.
Wharton graduated from Texas Christian University in 1989 with a BA.
Trey Wharton is currently serving in the Texas State House, representing the state’s 12th House district. He replaced previous state representative Kyle Kacal in 2023.
Bills in Texas go through a multi-step legislative process, including committee review, debates, and votes in both chambers before reaching a final decision. Each session, there are typically thousands of bills introduced, but only a portion successfully navigate the process to become law.
You can read more about the bills and other measures here.
| Legislative Session | Author | Bill Number | Date Introduced | Short Description |
|---|---|---|---|---|
| 89(R) | Trey Wharton | HB 4142 | 03/10/2025 | Relating to the designation of a weight enforcement officer by a commissioners court in certain counties |
| 89(R) | Trey Wharton | HB 4140 | 03/10/2025 | Relating to the use of certain tax revenue to acquire and enhance multipurpose venues and related infrastructure in certain counties |
| 89(R) | Trey Wharton | HB 3773 | 03/05/2025 | Relating to the transfer of certain state property from the Texas Department of Criminal Justice to Walker County |
| 89(R) | Trey Wharton | HB 3510 | 02/28/2025 | Relating to the designation of a portion of State Highway 6 in Brazos County as the Sergeant Mark Butler Memorial Highway |
| 89(R) | Trey Wharton | HB 3508 | 02/28/2025 | Relating to an insurer’s responsibility to review and audit a third-party administrator |
| 89(R) | Trey Wharton | HB 3507 | 02/28/2025 | Relating to the punishment for the offense of theft |
| 89(R) | Trey Wharton | HB 2607 | 02/10/2025 | Relating to the terms of the members of the board of hospital managers and leasing authority of the Walker County Hospital District |
| 89(R) | Trey Wharton | HB 2217 | 01/29/2025 | Relating to establishing a grant program to equip motor vehicles used by peace officers with certain bullet-resistant components |
| 88(2) | Kyle Kacal | HB 72 | 07/12/2023 | Relating to the sale of charitable raffle tickets by certain nonprofit wildlife conservation associations |
| 88(R) | Kyle Kacal | HB 5366 | 04/11/2023 | Relating to the creation of the Grimes County Municipal Utility District No. 3; granting a limited power of eminent domain; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes |
| 88(R) | Kyle Kacal | HB 5302 | 03/14/2023 | Relating to the review of the duties of a groundwater conservation district by the Texas Commission on Environmental Quality |
| 88(R) | Kyle Kacal | HB 4710 | 03/10/2023 | Relating to allowing a governmental body to combine multiple requests submitted by separate individuals on behalf of an organization for purposes of computing charges under the public information law |
| 88(R) | Kyle Kacal | HB 4718 | 03/10/2023 | Relating to the designation of a portion of State Highway 164 in Limestone County as the State Trooper Chad M. Walker Memorial Highway |
| 88(R) | Kyle Kacal | HB 5135 | 03/10/2023 | Relating to the issuance of K9s4KIDs specialty license plates |
| 88(R) | Kyle Kacal | HB 5136 | 03/10/2023 | Relating to the applicability of a county hotel occupancy tax to certain recreational vehicle parks and campgrounds in certain counties and the use of revenue from that tax |
| 88(R) | Kyle Kacal | HB 5142 | 03/10/2023 | Relating to the issuance of specially marked driver’s licenses and personal identification certificates to veterans |
| 88(R) | Kyle Kacal | HB 4532 | 03/09/2023 | Relating to the consideration of modeled sustained groundwater pumping in the adoption of desired future conditions in groundwater conservation districts |
| 88(R) | Kyle Kacal | HB 4538 | 03/09/2023 | Relating to the regulation of beekeeping; imposing fees and authorizing other fees; expanding the applicability of an occupational permit |
| 88(R) | Kyle Kacal | HB 4543 | 03/09/2023 | Relating to an exception to the titling requirement for certain motor vehicles; creating a criminal offense |
| 88(R) | Kyle Kacal | HB 4551 | 03/09/2023 | Relating to a required water quality permit for construction of a high-speed rail project |
| 88(R) | Kyle Kacal | HB 4685 | 03/09/2023 | Relating to the sale by certain alcoholic beverage permit holders of wine or liquor at a cost below the cost to the seller |
| 88(R) | Kyle Kacal | HB 3990 | 03/08/2023 | Relating to a study of existing surface water and groundwater interaction data and analyses |
| 88(R) | Kyle Kacal | HB 3464 | 03/03/2023 | Relating to creating the criminal offense of tampering with a correctional facility tablet device |
| 88(R) | Kyle Kacal | HB 3257 | 03/02/2023 | Relating to the confidentiality of certain biosecurity and other sensitive information shared with the Texas Animal Health Commission |
| 88(R) | Kyle Kacal | HB 3070 | 03/01/2023 | Relating to the recognition of priority transmission areas in the ERCOT power region |
| 88(R) | Kyle Kacal | HB 3075 | 03/01/2023 | Relating to the operation of an unmanned aircraft over a correctional facility or detention facility; creating a criminal offense |
| 88(R) | Kyle Kacal | HB 3046 | 02/28/2023 | Relating to the omission of a deceased candidate from the ballot in certain elections |
| 88(R) | Kyle Kacal | HB 2489 | 02/17/2023 | Relating to renaming the Texas Natural Resources Information System as the Texas Geographic Information Office and the duties of certain officers of that entity |
| 88(R) | Kyle Kacal | HB 2271 | 02/14/2023 | Relating to the protection of aquaculture operations |
| 88(R) | Kyle Kacal | HB 2145 | 02/10/2023 | Relating to the reporting of electronic political contributions accepted by certain political committees |
| 88(R) | Kyle Kacal | HB 2138 | 02/09/2023 | Relating to the sale of charitable raffle tickets by certain nonprofit wildlife conservation associations |
| 88(R) | Kyle Kacal | HB 1832 | 02/03/2023 | Relating to authorizing the payment to employees of the Texas Department of Criminal Justice for vacation leave |
| 88(R) | Kyle Kacal | HB 1914 | 02/03/2023 | Relating to compensatory time accrued by an employee of the Texas Department of Criminal Justice |
| 88(R) | Kyle Kacal | HB 1333 | 01/13/2023 | Relating to the sale and purchase of certain fish |
| 88(R) | Kyle Kacal | HB 1114 | 12/27/2022 | Relating to the service area of the Blinn Junior College District |
