BWM H.B. 3076 75(R)BILL ANALYSIS


FINANCIAL INSTITUTIONS
H.B. 3076
By: Oliveira
4-11-97
Committee Report (Unamended)



BACKGROUND 

Current Texas law allows that a savings bank have a board of directors
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. 

PURPOSE

H.B. 3076 allows for a savings bank board of directors be elected to serve
staggered terms of longer than one year as provided by the laws or
articles of incorporation of the savings bank. 

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any
additional rulemaking authority to a state officer, department, agency or
institution. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 6.01 (a), Texas Savings Bank Act (Article 489e,
Vernon's Texas Civil Statutes). 

 Subsection (a).  Allows members of the board of directors of a savings
bank to be elected  to staggered terms of longer than one year as provided
by the by laws or articles of  incorporation of a savings bank. 

SECTION 2. Emergency Clause.