LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

February 21, 2003

TO:	Honorable Bill Ratliff, Chair, Senate Committee on State Affairs
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	SB202 by Wentworth (Relating to the reorganization of a mutual life insurance company.), As Introduced

No fiscal implication to the State is anticipated.

The bill allows a mutual life insurance company organized or operating under Chapter 826 of the Insurance Code to reorganize by forming an insurance holding company based on a mutual plan and to continue the corporate existence of the reorganizing mutual life insurance company as a stock insurance company.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:	312 Securities Board, 454 Department Of Insurance
LBB Staff:	JK, RR, RT, RB