1-1     By:  King (Senate Sponsor - Fraser)                   H.B. No. 3065

 1-2           (In the Senate - Received from the House April 21, 1997;

 1-3     April 23, 1997, read first time and referred to Committee on

 1-4     Natural Resources; May 15, 1997, reported favorably by the

 1-5     following vote:  Yeas 11, Nays 0; May 15, 1997, sent to printer.)

 1-6                            A BILL TO BE ENTITLED

 1-7                                   AN ACT

 1-8     relating to the eligibility of lending institutions to participate

 1-9     in the linked deposit program established in the Department of

1-10     Agriculture.

1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

1-12           SECTION 1.  Section 44.007, Agriculture Code, is amended by

1-13     adding Subsection (k) to read as follows:

1-14           (k)  A lending institution is not ineligible to participate

1-15     in the linked deposit program solely because a member of the board

1-16     is also an officer, director, or employee of the lending

1-17     institution.

1-18           SECTION 2.  The importance of this legislation and the

1-19     crowded condition of the calendars in both houses create an

1-20     emergency and an imperative public necessity that the

1-21     constitutional rule requiring bills to be read on three several

1-22     days in each house be suspended, and this rule is hereby suspended,

1-23     and that this Act take effect and be in force from and after its

1-24     passage, and it is so enacted.

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