By Elkins                                       H.B. No. 3214

      75R9234 DWS-F                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to conversion of state savings and loan associations to

 1-3     state savings banks.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Chapter 1, Texas Savings and Loan Act (Article

 1-6     852a, Vernon's Texas Civil Statutes), is amended by adding Section

 1-7     1.05 to read as follows:

 1-8           Sec. 1.05.  CONVERSION TO SAVINGS BANK.  (a)  Before January

 1-9     1, 1999, each domestic association shall convert into a

1-10     state-chartered savings bank  as provided by Section 3.01, Texas

1-11     Savings Bank Act (Article 489e, Vernon's Texas Civil Statutes).

1-12           (b)  Effective January 1, 1999, the charters of all savings

1-13     and loan associations that have not converted as required by this

1-14     section expire.

1-15           SECTION 2.  This Act takes effect September 1, 1997.

1-16           SECTION 3.  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.