1-1  By:  Haggerty (Senate Sponsor - Lucio)                H.B. No. 2710
    1-2        (In the Senate - Received from the House May 15, 1995;
    1-3  May 18, 1995, read first time and referred to Committee on Economic
    1-4  Development; May 23, 1995, reported favorably by the following
    1-5  vote:  Yeas 10, Nays 0; May 23, 1995, sent to printer.)
    1-6                         A BILL TO BE ENTITLED
    1-7                                AN ACT
    1-8  relating to the applicability of the Insurance Holding Company
    1-9  System Regulatory Act.
   1-10        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
   1-11        SECTION 1.  Section 2(r), Article 21.49-1, Insurance Code, is
   1-12  amended to read as follows:
   1-13        (r)  Notwithstanding any other provision of this article,
   1-14  this article shall not be applicable to any insurance holding
   1-15  company system in which the insurer, the holding company, if any,
   1-16  the subsidiaries, if any, the affiliates, if any, and each and
   1-17  every other member thereof, if any, is privately owned by not more
   1-18  than five (5) securityholders, each of whom is and must be an
   1-19  individual or a natural person<, and the commissioner has found
   1-20  that it is not necessary that such holding company system be
   1-21  regulated under this article or certain provisions of this article
   1-22  and has issued a total or partial exemption certificate to such
   1-23  holding company which shall effect the exemption until revoked by
   1-24  the commissioner>.
   1-25        SECTION 2.  The importance of this legislation and the
   1-26  crowded condition of the calendars in both houses create an
   1-27  emergency and an imperative public necessity that the
   1-28  constitutional rule requiring bills to be read on three several
   1-29  days in each house be suspended, and this rule is hereby suspended,
   1-30  and that this Act take effect and be in force from and after its
   1-31  passage, and it is so enacted.
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