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      By: Hughes, Hagenbuch S.B. No. 945       Kolkhorst     A BILL TO BE ENTITLED   AN ACT   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   FACTORS           Sec. 806.001.  DEFINITIONS. In this chapter:                 (1)     "Holding company" and "insurer" have the meanings   assigned by Section 823.002.                 (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   invests; or                       (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   may not:                 (1)     include a political shareholder proposal in a   proxy statement; or                 (2)  implement a political shareholder proposal.          SECTION 2.  This Act takes effect September 1, 2025.