| 1 | | - | By: Thompson of Harris (Senate Sponsor - Hancock) H.B. No. 3031 |
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| 2 | | - | (In the Senate - Received from the House April 27, 2015; |
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| 3 | | - | April 27, 2015, read first time and referred to Committee on |
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| 4 | | - | Administration; April 29, 2015, reported favorably by the |
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| 5 | | - | following vote: Yeas 5, Nays 0; April 29, 2015, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 1 | + | H.B. No. 3031 |
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| 10 | 4 | | AN ACT |
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| 11 | 5 | | relating to the decertification of a certified capital company. |
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| 12 | 6 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 7 | | SECTION 1. Section 228.302, Insurance Code, is amended by |
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| 14 | 8 | | adding Subsection (c-1) to read as follows: |
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| 15 | 9 | | (c-1) Notwithstanding any other provision of this section, |
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| 16 | 10 | | the comptroller may decertify a certified capital company if the |
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| 17 | 11 | | comptroller receives a request in writing from the certified |
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| 18 | 12 | | capital company stating that the certified capital company has made |
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| 19 | 13 | | qualified investments in an amount cumulatively equal to 100 |
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| 20 | 14 | | percent of the company's certified capital. |
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| 21 | 15 | | SECTION 2. This Act takes effect immediately if it receives |
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| 22 | 16 | | a vote of two-thirds of all the members elected to each house, as |
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| 23 | 17 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 24 | 18 | | Act does not receive the vote necessary for immediate effect, this |
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| 25 | 19 | | Act takes effect September 1, 2015. |
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| 26 | | - | * * * * * |
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| 20 | + | ______________________________ ______________________________ |
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| 21 | + | President of the Senate Speaker of the House |
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| 22 | + | I certify that H.B. No. 3031 was passed by the House on April |
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| 23 | + | 23, 2015, by the following vote: Yeas 139, Nays 0, 2 present, not |
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| 24 | + | voting. |
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| 25 | + | ______________________________ |
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| 26 | + | Chief Clerk of the House |
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| 27 | + | I certify that H.B. No. 3031 was passed by the Senate on May |
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| 28 | + | 8, 2015, by the following vote: Yeas 31, Nays 0. |
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| 29 | + | ______________________________ |
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| 30 | + | Secretary of the Senate |
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| 31 | + | APPROVED: _____________________ |
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| 32 | + | Date |
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| 33 | + | _____________________ |
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| 34 | + | Governor |
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