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  Section 152.303, Finance Code, is repealed.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                                  * * * * *