H.B. No. 2021
AN ACT
relating to the bankruptcy notice required to be filed by a
regulated oil and gas entity.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 91.142, Natural Resources Code, is
amended by adding Subsection (h) to read as follows:
(h) To enable the commission to better protect the state's
resources, an entity described by Subsection (a) or an affiliate of
such an entity performing operations within the jurisdiction of the
commission that files for federal bankruptcy protection shall give
written notice to the commission of that action by submitting the
notice to the office of general counsel not later than the 30th day
after the date of filing.
SECTION 2. (a) This Act takes effect September 1, 2003.
(b) The change in law made by Section 91.142(h), Natural
Resources Code, as added by this Act, applies only to a bankruptcy
filing that occurs on or after September 1, 2003.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2021 was passed by the House on April
10, 2003, by a non-record vote; and that the House concurred in
Senate amendments to H.B. No. 2021 on May 22, 2003, by a non-record
vote.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2021 was passed by the Senate, with
amendments, on May 20, 2003, by the following vote: Yeas 31, Nays
0.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor