By Brimer H.C.R. No. 31 75R3648 PFG-D HOUSE CONCURRENT RESOLUTION 1-1 WHEREAS, State law requires that all assets and liabilities 1-2 of the Texas Workers' Compensation Insurance Facility (the 1-3 facility) be transferred to the Texas Workers' Compensation 1-4 Insurance Fund no later than January 1, 1999; and 1-5 WHEREAS, The 75th Legislature has determined that the assets 1-6 and liabilities of the facility should instead be transferred in 1-7 their entirety to either a private entity or to the Texas Property 1-8 and Casualty Insurance Guaranty Association; and 1-9 WHEREAS, Furthermore, the legislature has determined that 1-10 this transfer should be made as soon as practicable to ensure a 1-11 smooth and efficient transition; now, therefore, be it 1-12 RESOLVED, That on March 1, 1997, the Texas Workers' 1-13 Compensation Insurance Facility shall cease to exist as an 1-14 independent entity, and that its assets and liabilities shall be 1-15 transferred to either a private entity, pending approval of the 1-16 commissioner of the Texas Department of Insurance, or to the Texas 1-17 Property and Casualty Insurance Guaranty Association; and, be it 1-18 further 1-19 RESOLVED, That if the transfer is made to the Texas Property 1-20 and Casualty Insurance Guaranty Association, the governing 1-21 committee of the Texas Workers' Compensation Insurance Facility 1-22 shall be deemed to have resigned and the board of directors of the 1-23 Texas Property and Casualty Insurance Guaranty Association shall 1-24 assume the responsibilities of the facility's governing committee; 2-1 and, be it further 2-2 RESOLVED, That the secretary of state forward an official 2-3 copy of this resolution to the chairman of the governing committee 2-4 of the Texas Workers' Compensation Insurance Facility, the chairman 2-5 of the board of the Texas Property and Casualty Insurance Guaranty 2-6 Association, the chairman of the board of directors of the Texas 2-7 Workers' Compensation Insurance Fund, and to the commissioner of 2-8 the Texas Department of Insurance.