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.