By Pitts                                              H.B. No. 3669
         77R10156 DWS-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to application of certain insurance premium financing law
 1-3     to a retail installment transaction involving a motor vehicle.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Subchapter A, Chapter 348, Finance Code, is
 1-6     amended by adding Section 348.012 to read as follows:
 1-7           Sec. 348.012.  APPLICABILITY OF INSURANCE PREMIUM FINANCING
 1-8     PROVISIONS. Chapter 24, Insurance Code, does not apply to a retail
 1-9     installment transaction.
1-10           SECTION 2. The purpose of this Act is to clarify and confirm
1-11     existing law.
1-12           SECTION 3.  This Act takes effect immediately if it receives
1-13     a vote of two-thirds of all the members elected to each house, as
1-14     provided by Section 39, Article III, Texas Constitution.  If this
1-15     Act does not receive the vote necessary for immediate effect, this
1-16     Act takes effect September 1, 2001.