By Solomons H.B. No. 2223
76R7390 DWS-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to reporting requirements of a license holder under The
1-3 Sale of Checks Act.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 152.305, Finance Code, is amended to read
1-6 as follows:
1-7 Sec. 152.305. FINANCIAL STATEMENTS AND REPORTS. (a) Unless
1-8 waived by the commissioner, not [Not] later than the 45th day after
1-9 the last day of each quarter of the license holder's fiscal year, a
1-10 license holder shall file with the commissioner a certification of
1-11 net worth and a report [:]
1-12 [(1) an unconsolidated financial statement, including
1-13 a balance sheet, as of the last day of the preceding quarter; and]
1-14 [(2) required reports] regarding maintaining
1-15 permissible investments under Sections 152.301 and 152.3015 for the
1-16 preceding quarter submitted on forms furnished by the commissioner.
1-17 (b) Not later than April 15 of each year, or a later date
1-18 the commissioner approves in writing for good cause shown, a [A]
1-19 license holder shall file an annual audited unconsolidated
1-20 financial statement dated as of the last day of the license
1-21 holder's fiscal year that ended in the immediately preceding
1-22 calendar year [not later than the 120th day after the last day of
1-23 the license holder's fiscal year].
1-24 SECTION 2. Section 152.303, Finance Code, is repealed.
2-1 SECTION 3. This Act takes effect September 1, 1999.
2-2 SECTION 4. The importance of this legislation and the
2-3 crowded condition of the calendars in both houses create an
2-4 emergency and an imperative public necessity that the
2-5 constitutional rule requiring bills to be read on three several
2-6 days in each house be suspended, and this rule is hereby suspended.