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.