Bill Text: TX HB3031 | 2015-2016 | 84th Legislature | Enrolled
Bill Title: Relating to the decertification of a certified capital company.
Spectrum: Bipartisan Bill
Status: (Passed) 2015-05-21 - Effective immediately [HB3031 Detail]
Download: Texas-2015-HB3031-Enrolled.html
| H.B. No. 3031 | ||
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| relating to the decertification of a certified capital company. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 228.302, Insurance Code, is amended by | ||
| adding Subsection (c-1) to read as follows: | ||
| (c-1) Notwithstanding any other provision of this section, | ||
| the comptroller may decertify a certified capital company if the | ||
| comptroller receives a request in writing from the certified | ||
| capital company stating that the certified capital company has made | ||
| qualified investments in an amount cumulatively equal to 100 | ||
| percent of the company's certified capital. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2015. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 3031 was passed by the House on April | ||
| 23, 2015, by the following vote: Yeas 139, Nays 0, 2 present, not | ||
| voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 3031 was passed by the Senate on May | ||
| 8, 2015, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: _____________________ | ||
| Date | ||
| _____________________ | ||
| Governor | ||
