| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R12081 MEW-D | |
| 2 | 2 | By: Goldman H.B. No. 3255 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the interests of certain holding companies in other | |
| 8 | 8 | holding companies that own a repair facility. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 2307.002, Occupations Code, is amended | |
| 11 | 11 | by adding Subsection (e) to read as follows: | |
| 12 | 12 | (e) Notwithstanding Subsection (a), a holding company, as | |
| 13 | 13 | defined by Section 823.002, Insurance Code, that owns an insurer | |
| 14 | 14 | may own or acquire another holding company that owns an interest in | |
| 15 | 15 | a repair facility. | |
| 16 | 16 | SECTION 2. The change in law made by Section 2307.002(e), | |
| 17 | 17 | Occupations Code, as added by this Act, applies only to the | |
| 18 | 18 | ownership or acquisition of a holding company on or after the | |
| 19 | 19 | effective date of this Act. Ownership or acquisition of a holding | |
| 20 | 20 | company before the effective date of this Act is governed by the law | |
| 21 | 21 | in effect on the date the interest was acquired, and that law is | |
| 22 | 22 | continued in effect for that purpose. | |
| 23 | 23 | SECTION 3. This Act takes effect September 1, 2015. |