1-1                                   AN ACT
 1-2     relating to the transfer of tax credits among members of the Life,
 1-3     Accident, Health and Hospital Service Insurance Guaranty
 1-4     Association.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1. Section 13, Article 21.28-D, Insurance Code, is
 1-7     amended by adding Subsections (d) and (e) to read as follows:
 1-8           (d)  A member insurer may assign or transfer a credit against
 1-9     premium tax to another member insurer if:
1-10                 (1)  an acquisition, merger, or total assumption of
1-11     reinsurance has occurred between the insurers; or
1-12                 (2)  the commissioner by order approves the assignment
1-13     or transfer.
1-14           (e)  Not later than November 1 or the 60th day after the date
1-15     of an assignment or transfer under Subsection (d) of this section,
1-16     whichever is later, each member insurer shall report, on a form
1-17     prescribed by the comptroller, the assignment or transfer to the
1-18     comptroller.  The member insurer shall provide with the report any
1-19     documents from the commissioner that show approval of the
1-20     assignment or transfer.
1-21           SECTION 2. This Act takes effect September 1, 2001.
         _______________________________     _______________________________
             President of the Senate              Speaker of the House
               I certify that H.B. No. 1495 was passed by the House on May
         5, 2001, by a non-record vote.
                                             _______________________________
                                                 Chief Clerk of the House
               I certify that H.B. No. 1495 was passed by the Senate on May
         23, 2001, by the following vote:  Yeas 30, Nays 0, 1 present, not
         voting.
                                             _______________________________
                                                 Secretary of the Senate
         APPROVED:  __________________________
                              Date
                    __________________________
                            Governor