SRC-SEW S.B. 1288 77(R)BILL ANALYSIS


Senate Research CenterS.B. 1288
By: Carona
Intergovernmental Relations
6/14/2001
Enrolled


DIGEST 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.  S.B. 1288 adds the Texas Housing Finance Corporations Act
to this indemnification list.   

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section A(2), Article 7.06, Texas Miscellaneous
Corporation Laws Act (Article 1302-7.06, V.T.C.S.), to redefine
"corporation."  

SECTION 2.  Makes application of this Act prospective.

SECTION 3.  Effective date: upon passage or September 1, 2001.