By Elkins H.B. No. 1830
76R4248 WP-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the number and qualifications of members of the Finance
1-3 Commission of Texas.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 11.101(a), Finance Code, is amended to
1-6 read as follows:
1-7 (a) The Finance Commission of Texas is composed of 12 [nine]
1-8 members appointed by the governor with the advice and consent of
1-9 the senate.
1-10 SECTION 2. Sections 11.102(b), (c), and (e), Finance Code,
1-11 are amended to read as follows:
1-12 (b) Two members of the finance commission must be banking
1-13 executives, two members must be finance executives, two members
1-14 must be pawnshop executives, and two members [of the finance
1-15 commission] must be savings executives.
1-16 (c) Four [Five] members of the finance commission may not be
1-17 banking executives, finance executives, pawnshop executives,
1-18 savings executives, or controlling owners or shareholders in a
1-19 bank, entity regulated by Subtitle B, Title 4, pawnshop, savings
1-20 association, or savings bank but must be selected by the governor
1-21 on the basis of recognized business ability. [At least one of
1-22 those members must be a certified public accountant.]
1-23 (e) For the purposes of this section:
1-24 (1) "Banking executive" means a person who:
2-1 (A) has had five years' or more executive
2-2 experience in a bank during the seven-year period preceding the
2-3 person's appointment; and
2-4 (B) at the time of the person's appointment is
2-5 an officer of a state bank.
2-6 (2) "Finance executive" means a person, other than a
2-7 banking executive or savings executive, who:
2-8 (A) has had five years' or more executive
2-9 experience in an entity regulated by Subtitle B, Title 4, during
2-10 the seven-year period preceding the person's appointment; and
2-11 (B) at the time of the person's appointment is
2-12 in an executive position in an entity regulated by Subtitle B,
2-13 Title 4.
2-14 (3) "Pawnshop executive" means a person who:
2-15 (A) has had five years' or more executive
2-16 experience in a pawnshop during the seven-year period preceding the
2-17 person's appointment; and
2-18 (B) at the time of the person's appointment is
2-19 in an executive position in a pawnshop.
2-20 (4) "Savings executive" means a person who:
2-21 (A) has had five years' or more executive
2-22 experience in a savings association or savings bank during the
2-23 seven-year period preceding the person's appointment; and
2-24 (B) at the time of the person's appointment is
2-25 an officer of a state savings association or savings bank.
2-26 SECTION 3. (a) The changes in law made by this Act to the
2-27 qualifications applying to the members of the Finance Commission of
3-1 Texas do not affect the entitlement of a member serving on the
3-2 commission immediately before the effective date of this Act to
3-3 continue to carry out the commission's functions for the remainder
3-4 of the member's term. The changes in law apply only to a member
3-5 appointed on or after the effective date of this Act. This Act
3-6 does not prohibit a person who is a member of the commission on the
3-7 effective date of this Act from being reappointed to the commission
3-8 if the person has the qualifications required for a member under
3-9 Section 11.102, Finance Code, as amended by this Act.
3-10 (b) Promptly after this Act takes effect, the governor shall
3-11 appoint three additional members to the Finance Commission of
3-12 Texas. In appointing those members, the governor shall appoint one
3-13 person to a term expiring February 1, 2000; one to a term expiring
3-14 February 1, 2002; and one to a term expiring February 1, 2004.
3-15 SECTION 4. This Act takes effect September 1, 1999.
3-16 SECTION 5. The importance of this legislation and the
3-17 crowded condition of the calendars in both houses create an
3-18 emergency and an imperative public necessity that the
3-19 constitutional rule requiring bills to be read on three several
3-20 days in each house be suspended, and this rule is hereby suspended.