JBM S.B. 899 75(R) BILL ANALYSIS NATURAL RESOURCES S.B. 899 By: Ratliff (Denny) 5-13-97 Committee Report (Unamended) BACKGROUND Currently, Texas law governing the voting guidelines for stockholders or members of nonprofit water supply and sewer service corporations is somewhat ambiguous. This bill clearly sets forth the voting rights of each member or stockholder in such an election. PURPOSE To provide that, in reference to water supply or sewer service corporations, a stockholder or member has only one vote regardless of the number of memberships or stock certificates held by the person in the election of certain executive officers. 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 5, Chapter 76, Acts of the 43rd Legislature, 1st Called Session, 1933, to require, at an annual membership or stockholders' meeting of a water supply or sewer service corporation, that each member or stockholder be allowed only one vote regardless of the number of memberships or stock certificates held by the person. SECTION 2. Emergency clause. Effective date: upon passage.