1-1 By: Solomons (Senate Sponsor - Sibley) H.B. No. 2223
1-2 (In the Senate - Received from the House April 26, 1999;
1-3 April 27, 1999, read first time and referred to Committee on
1-4 Economic Development; May 6, 1999, reported favorably by the
1-5 following vote: Yeas 5, Nays 0; May 6, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to reporting requirements of a license holder under The
1-9 Sale of Checks Act.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Section 152.305, Finance Code, is amended to read
1-12 as follows:
1-13 Sec. 152.305. FINANCIAL STATEMENTS AND REPORTS. (a) Unless
1-14 waived by the commissioner, not [Not] later than the 45th day after
1-15 the last day of each quarter of the license holder's fiscal year, a
1-16 license holder shall file with the commissioner a certification of
1-17 net worth and a report [:]
1-18 [(1) an unconsolidated financial statement, including
1-19 a balance sheet, as of the last day of the preceding quarter; and]
1-20 [(2) required reports] regarding maintaining
1-21 permissible investments under Sections 152.301 and 152.3015 for the
1-22 preceding quarter submitted on forms furnished by the commissioner.
1-23 (b) Not later than April 15 of each year, or a later date
1-24 the commissioner approves in writing for good cause shown, a [A]
1-25 license holder shall file an annual audited unconsolidated
1-26 financial statement dated as of the last day of the license
1-27 holder's fiscal year that ended in the immediately preceding
1-28 calendar year [not later than the 120th day after the last day of
1-29 the license holder's fiscal year].
1-30 SECTION 2. Section 152.303, Finance Code, is repealed.
1-31 SECTION 3. This Act takes effect September 1, 1999.
1-32 SECTION 4. The importance of this legislation and the
1-33 crowded condition of the calendars in both houses create an
1-34 emergency and an imperative public necessity that the
1-35 constitutional rule requiring bills to be read on three several
1-36 days in each house be suspended, and this rule is hereby suspended.
1-37 * * * * *