By: Sims S.B. No. 640
73R5067 SMH-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the assignment of oil and gas leases issued by, and to
1-3 meetings of, the Board for Lease of University Lands.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 66.73(a), Education Code, is amended to
1-6 read as follows:
1-7 (a) Any rights acquired may be assigned; provided, however,
1-8 in order for an assignment to be valid and effective, the
1-9 assignment must be filed in the county or counties in which the
1-10 area is situated, and a legible <an original certified> copy of the
1-11 recorded assignment must be filed with the Board of Regents of The
1-12 University of Texas System, accompanied by <10 cents an acre for
1-13 each acre assigned and> a filing fee in an amount set by the board
1-14 of not less than $30 <of $5> for each lease assigned <involved in
1-15 the assignment>. If the copy of the recorded assignment is filed
1-16 with the Board of Regents of The University of Texas System after
1-17 the 90th day after the date on which the assignment is recorded,
1-18 the copy must be accompanied by the filing fee set by the board and
1-19 by a late fee equal to the amount of the filing fee.
1-20 SECTION 2. Section 66.62(g), Education Code, is amended to
1-21 read as follows:
1-22 (g) A majority of the board members present at a meeting has
1-23 the power to act for the board. The agreement of at least two
1-24 board members is required for the board to act.
2-1 SECTION 3. This Act takes effect September 1, 1993, and
2-2 applies only to an assignment recorded or a meeting of the board
2-3 held on or after that date. An assignment recorded or a meeting of
2-4 the board held before the effective date of this Act is governed by
2-5 the law in effect on the date the assignment was recorded or the
2-6 meeting of the board was held, and that law is continued in effect
2-7 for that purpose.
2-8 SECTION 4. The importance of this legislation and the
2-9 crowded condition of the calendars in both houses create an
2-10 emergency and an imperative public necessity that the
2-11 constitutional rule requiring bills to be read on three several
2-12 days in each house be suspended, and this rule is hereby suspended.