Amend Amendment No. 53 by Rose to CSSB 14 by adding the 
following appropriately numbered SECTIONS to the amendment and 
renumbering subsequent SECTIONS accordingly:
	SECTION _____.  Article 21.49-4, Insurance Code, is amended 
by amending Subsections (d), (e), (g), (h), (i), and (j), and adding 
Subsection (k) to read as follows:
	(d)  The trust investment powers and limitations shall be the 
same as those of any state bank with trust powers.  The trust shall 
adopt rules [and regulations] to guarantee all contingent 
liabilities in the event of dissolution.
	(e)  The trust is not engaged in the business of insurance 
under this code and other laws of this state and the provisions of 
any chapters or sections of this code are declared inapplicable to a 
trust organized and operated under this article, except as 
identified in this article, provided that the Texas Department 
[State Board] of Insurance may require any trust created under this 
article to satisfy reasonable minimum requirements to insure the 
capability of the trust to satisfy its contractual obligations.
	(g)  The trust shall file [, for informational purposes 
only,] all rates and forms with the Texas Department of Insurance. 
[State Board of Insurance.]  Such rate and form filings are subject 
to the rate and form requirements of Article 5.13-2, Insurance 
Code.
	(h)  The trust shall file with the Texas Department of 
Insurance [State Board of Insurance] all liability claims reports 
which are required pursuant to Sections 38.151-38.162 [Articles 
1.24A and 1.24B], Insurance Code.
	(i)  If the trust is found to be in violation of or to have 
failed to comply with any provision of this code or any duly 
promulgated rule [or regulation] of the Texas Department of 
Insurance, [State Board of Insurance which is declared] applicable 
to a trust organized and operated under this article, the 
department [State Board of Insurance,] may order sanctions pursuant 
to Sections 82.001-82.003 and 82.051-82.056 [7, Article 1.10,] 
Insurance Code, [may order sanctions] for such violation.
	(j)  The trust shall file its independently audited annual 
financial statement with the Texas Department of Insurance pursuant 
to Article 1.15A, Insurance Code [State Board of Insurance; this 
audit shall not be considered an examination document].
	(k)  The trust is subject to the examination authority of the 
Texas Department of Insurance pursuant to Article 1.15, Insurance 
Code.
	SECTION _____.  Article 21.49-4(f), Insurance Code, is 
repealed.