Amend CSHB 1188 as follows:
      (1)  On page 1, line 22, after the semicolon, add "or".
      (2)  Strike page 1, line 23, through page 2, line 4 and
substitute:
            "(6)  an extension of credit defined by Section
50(a)(6), Article XVI, Texas Constitution.".
      (3)  On page 2, lines 5-15, strike SECTION 2 of the bill and
renumber the subsequent sections appropriately.
      (4)  Strike page 3, line 2, through page 4, line 16, and
substitute:
            "(4)  "Equity loan" means an extension of credit
defined by Section 50(a)(6), Article XVI, Texas Constitution.
            (5)  "Reverse mortgage" means an equity loan:
                  (A)  that is secured by a voluntary lien on
homestead property created by a written agreement with the consent
of each owner and each owner's spouse;
                  (B)  that is made to a person who is or whose
spouse is 55 years or older;".
      (5)  On page 5, line 27, between "(1)" and "this" insert
"Section 50, Article XVI, Texas Constitution and".
      (6)  Strike page 6 line 27, through page 7, line 2,
substitute "Art. 5A.05.  RESCISSION." and renumber subsequent
subsections appropriately.
      (7)  Strike page 8, line 17 through page 9, line 4 and
renumber subsequent SECTIONS of the bill appropriately.
      (8)  On page 11, line 8, strike "any right to collect all
interest" and substitute "all principal and interest of the equity
loan".
      (9)  On page 11, strike lines 10-12 and substitute
"MORTGAGE.  A reverse mortgage that is secured by a valid lien
against homestead property may be made or acquired without regard
to the following provisions of any statute of this state:".