| 1 | 1 | | 85R2469 MEW-D |
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| 2 | 2 | | By: Goldman H.B. No. 1084 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the interests of certain holding companies in certain |
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| 8 | 8 | | repair facilities. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 2307.002, Occupations Code, is amended |
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| 11 | 11 | | by adding Subsections (e) and (f) to read as follows: |
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| 12 | 12 | | (e) A holding company that owns an insurer may acquire, own, |
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| 13 | 13 | | and operate an interest in a repair facility through a person, other |
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| 14 | 14 | | than an insurer, who is an affiliate or subsidiary of the holding |
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| 15 | 15 | | company. The facility must be licensed as a new motor vehicle |
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| 16 | 16 | | dealership under Chapter 2301. |
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| 17 | 17 | | (f) For purposes of Subsection (e), "holding company" and |
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| 18 | 18 | | "insurer" have the meanings assigned by Section 823.002, Insurance |
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| 19 | 19 | | Code. |
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| 20 | 20 | | SECTION 2. The change in law made by Section 2307.002(e), |
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| 21 | 21 | | Occupations Code, as added by this Act, applies only to the |
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| 22 | 22 | | acquisition, ownership, or operation of an interest in a repair |
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| 23 | 23 | | facility on or after the effective date of this Act. Acquisition, |
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| 24 | 24 | | ownership, or operation of an interest in a repair facility before |
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| 25 | 25 | | the effective date of this Act is governed by the law as it existed |
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| 26 | 26 | | before that date, and that law is continued in effect for that |
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| 27 | 27 | | purpose. |
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| 28 | 28 | | SECTION 3. This Act takes effect immediately if it receives |
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| 29 | 29 | | a vote of two-thirds of all the members elected to each house, as |
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| 30 | 30 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 31 | 31 | | Act does not receive the vote necessary for immediate effect, this |
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| 32 | 32 | | Act takes effect September 1, 2017. |
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