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  Section 152.303, Finance Code, is repealed.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.
         _______________________________     _______________________________
             President of the Senate              Speaker of the House
               I certify that H.B. No. 2223 was passed by the House on April
         23, 1999, by a non-record vote.
                                             _______________________________
                                                 Chief Clerk of the House
               I certify that H.B. No. 2223 was passed by the Senate on May
         17, 1999, by the following vote:  Yeas 30, Nays 0.
                                             _______________________________
                                                 Secretary of the Senate
         APPROVED:  _____________________
                            Date
                    _____________________
                          Governor