1-1 By: West S.B. No. 1347
1-2 (In the Senate - Filed March 10, 1995; March 20, 1995, read
1-3 first time and referred to Committee on Natural Resources;
1-4 April 12, 1995, reported favorably by the following vote: Yeas 10,
1-5 Nays 0; April 12, 1995, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to securing or guaranteeing payment on in-kind sales
1-9 through insurance contracts or other agreements.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Subsection (c), Section 52.133, Natural Resources
1-12 Code, is amended to read as follows:
1-13 (c) The commissioner, the owner of the soil under Subchapter
1-14 F of this chapter, or the commissioner, acting on the behalf of and
1-15 at the direction of an owner of the soil under Subchapter F of this
1-16 chapter, the board, or a board for lease may negotiate and execute
1-17 contracts or any other instruments or agreements necessary to
1-18 dispose of their portion of the royalty taken in kind, including
1-19 contracts for sale, transportation, and <or> storage and including
1-20 insurance contracts or other agreements, to secure or guarantee
1-21 payment.
1-22 SECTION 2. The importance of this legislation and the
1-23 crowded condition of the calendars in both houses create an
1-24 emergency and an imperative public necessity that the
1-25 constitutional rule requiring bills to be read on three several
1-26 days in each house be suspended, and this rule is hereby suspended.
1-27 * * * * *