Bill Text: TX HB3255 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the interests of certain holding companies in other holding companies that own a repair facility.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2015-04-20 - Left pending in committee [HB3255 Detail]
Download: Texas-2015-HB3255-Introduced.html
| 84R12081 MEW-D | ||
| By: Goldman | H.B. No. 3255 | |
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| relating to the interests of certain holding companies in other | ||
| holding companies that own a repair facility. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 2307.002, Occupations Code, is amended | ||
| by adding Subsection (e) to read as follows: | ||
| (e) Notwithstanding Subsection (a), a holding company, as | ||
| defined by Section 823.002, Insurance Code, that owns an insurer | ||
| may own or acquire another holding company that owns an interest in | ||
| a repair facility. | ||
| SECTION 2. The change in law made by Section 2307.002(e), | ||
| Occupations Code, as added by this Act, applies only to the | ||
| ownership or acquisition of a holding company on or after the | ||
| effective date of this Act. Ownership or acquisition of a holding | ||
| company before the effective date of this Act is governed by the law | ||
| in effect on the date the interest was acquired, and that law is | ||
| continued in effect for that purpose. | ||
| SECTION 3. This Act takes effect September 1, 2015. | ||
