1-1                                   AN ACT

 1-2     relating to an incorporation requirement of a state savings bank.

 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-4           SECTION 1.  Section 2.03, Texas Savings Bank Act (Article

 1-5     489e, Vernon's Texas Civil Statutes), is amended to read as

 1-6     follows:

 1-7           Sec. 2.03.  STATUS AS [INTERNAL REVENUE SERVICE] THRIFT

 1-8     INSTITUTION.  (a)  A savings bank must qualify for and maintain:

 1-9                 (1)  the asset test of Section 7701(a)(19) of the

1-10     Internal Revenue Code of 1986 (26 U.S.C. Section 7701(a)(19)); or

1-11                 (2)  the qualified thrift lender test of Section 10(m)

1-12     of the Home Owners' Loan Act (12 U.S.C. Section 1467a(m)).

1-13           (b)  The commissioner may grant temporary or limited

1-14     exceptions to the requirements of this section as the commissioner

1-15     considers necessary.

1-16           SECTION 2.  The importance of this legislation and the

1-17     crowded condition of the calendars in both houses create an

1-18     emergency and an imperative public necessity that the

1-19     constitutional rule requiring bills to be read on three several

1-20     days in each house be suspended, and this rule is hereby suspended,

1-21     and that this Act take effect and be in force from and after its

1-22     passage, and it is so enacted.

         _______________________________     _______________________________

             President of the Senate              Speaker of the House

               I certify that H.B. No. 3078 was passed by the House on May

         2, 1997, by a non-record vote.

                                             _______________________________

                                                 Chief Clerk of the House

               I certify that H.B. No. 3078 was passed by the Senate on May

         26, 1997, by the following vote:  Yeas 31, Nays 0.

                                             _______________________________

                                                 Secretary of the Senate

         APPROVED:  _____________________

                            Date

                    _____________________

                          Governor