Bill not drafted by TLC or Senate E&E.

      Line and page numbers may not match official copy.

      By Eiland                                       H.B. No. 3030

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the delivery of certain property presumed abandoned to

 1-3     the castastrophe reserve trust fund established under Art. 21. 49

 1-4     of the Insurance Code.

 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-6           SECTION 1.  Section 74.3013 is added to the Property Code to

 1-7     read as follows:

 1-8           (a)  Notwithstanding and in addition to any other provision

 1-9     of this chapter or any other law, the Texas Catastrophe Property

1-10     Insurance Association may deliver money presumed abandoned under

1-11     this title to the catastrophe reserve trust fund owned by the Texas

1-12     Department of Insurance established under Art. 21.49 of the

1-13     Insurance Code instead of complying with the dictates and

1-14     requirements of Section 74.301 of this Code.

1-15           (b)  The Texas Catastrophe Property Insurance Association

1-16     shall file with the Texas Department of Insurance and the Texas

1-17     Comptroller of Public Accounts a verification of money delivered

1-18     under this section on a form prescribed by the Texas Comptroller of

1-19     Public Accounts.

1-20           (c)  A claim for money delivered to the catastrophe reserve

1-21     trust fund under this section must be filed with the Texas

1-22     Comptroller of Public Accounts, or the Comptroller's authorized

1-23     agent, as custodian for the catastrophe reserve trust fund.  With

1-24     the exception of sections 74.501 and 74.502, the provisions of

 2-1     Subchapter F of this chapter shall govern all matters relating to

 2-2     claims filed under this subsection.

 2-3           (d)  The Texas Comptroller of Public Accounts shall prescribe

 2-4     forms and procedures governing this section, including forms and

 2-5     procedures relating to:

 2-6                 (1)  notice of presumed abandoned property;

 2-7                 (2)  delivery of reported money to the catastrophe

 2-8     reserve trust fund; and

 2-9                 (3)  filing of claim

2-10           SECTION 3.  This Act takes effect on September 1, 1997.

2-11           SECTION 4.  The importance of this legislation and the

2-12     crowded condition of the calendars in both houses create an

2-13     emergency and an imperative public necessity that the

2-14     constitutional rule requiring bills to be read on three several

2-15     days in each house be suspended, and this rule is hereby suspended.