SRC-CDH H.B. 3076 75(R)   BILL ANALYSIS


Senate Research Center   H.B. 3076
By: Oliveira (Sibley)
Economic Development
5-17-97
Engrossed


DIGEST 

Current law allows a savings bank to have a board of directors composed of
between five and 21 members elected by a majority vote at an annual
meeting of members or stockholders.  Texas law does not provide for
members to serve staggered terms on these boards.  H.B. 3076 allows for a
savings bank board of directors to be elected to serve staggered terms of
longer than one year as provided by the laws or articles of incorporation
of the savings bank.   

PURPOSE

As proposed, H.B. 3076 establishes provisions regarding the terms of the
board of directors of a savings bank. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 6.01(a), Article 489e, V.T.C.S., to authorize
the board of directors of a savings bank to be elected to serve for
staggered terms of longer than one year as provided for in the bylaws or
articles of incorporation of the savings bank.  Makes conforming changes. 

SECTION 2. Emergency clause. 
  Effective date:  upon passage.