TO: | Honorable Tom Craddick, Speaker of the House, House of Representatives |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2965 by Seaman (Relating to regulation of sharing of certain profits and fees by premium finance companies and certain related persons or entities. ), As Passed 2nd House |
The bill would amend the Insurance Code relating to regulation of sharing of certain profits and fees by premium finance companies and certain related persons or entities. Based on the analysis of the Department of Insurance, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would take effect immediately upon receiving a two-thirds majority vote in each house. If the bill does not receive a two-thirds vote in each house, the bill would take effect September 1, 2005.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, SD, JRO, NV
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