HBA-MSH S.B. 1288 77(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 1288
By: Carona
Civil Practices
5/5/2001
Engrossed



BACKGROUND AND PURPOSE 

Currently, the Texas Miscellaneous Corporation Laws Act extends a limited
indemnification to board members of a corporation formed under one of 13
different Acts.  Senate Bill 1288  adds the Texas Housing Finance
Corporations Act to this indemnification list.  

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

ANALYSIS

Senate Bill 1288 amends the Texas Miscellaneous Corporations Laws Act to
limit the liability of the directors of a corporation organized under the
Texas Housing Finance Corporations Act.  

EFFECTIVE DATE

On passage, or if the Act does not receive the necessary vote, the Act
takes effect September 1, 2001.