<b><font color="red">NEW</font></b> - Texas Gov. signs bill to aid storm insurance fund

June 19, 2009 04:54 pm

— AUSTIN, Texas (AP) — Texas Gov. Rick Perry has signed into law a bill to restructure the state's windstorm insurance fund, the only property insurer for homeowners and business in 14 coastal counties.

The Texas Windstorm Insurance Association was depleted after hurricanes Ike and Dolly lashed the coast last year.

Perry went to Galveston for a bill-signing ceremony. He also signed into law bills that will provide up to $300 million to help the University of Texas Medical Branch recover from Ike and building a new 200-bed hospital.