By:  Harris, Chris                                     S.B. No. 123
       73R704 MJW-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to disposition by a decree of divorce or annulment of a
    1-3  beneficial interest in insurance or of benefits under a retirement
    1-4  plan or other financial plan.
    1-5        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-6        SECTION 1.  Sections 3.632 and 3.633, Family Code, are
    1-7  repealed.
    1-8        SECTION 2.  (a)  The change in law made by this Act applies
    1-9  only to disposition of a beneficial interest in insurance or of
   1-10  benefits under a retirement plan or other financial plan that is
   1-11  made by a decree of divorce or annulment rendered on or after the
   1-12  effective date of this Act.
   1-13        (b)  Disposition of a beneficial interest in insurance or of
   1-14  benefits under a retirement plan or other financial plan made by a
   1-15  decree of divorce or annulment rendered before the effective date
   1-16  of this Act is subject to the law in effect when the decree was
   1-17  rendered, and the former law is continued in effect for this
   1-18  purpose.
   1-19        SECTION 3.  This Act takes effect September 1, 1993.
   1-20        SECTION 4.  The importance of this legislation and the
   1-21  crowded condition of the calendars in both houses create an
   1-22  emergency   and   an   imperative   public   necessity   that   the
   1-23  constitutional rule requiring bills to be read on three several
   1-24  days in each house be suspended, and this rule is hereby suspended.