Amend HB 3480 on third reading (second reading engrossment) 
as follows:    
	(1)  On page 6, between lines 10 and 11, insert:                               
	SECTION 5.  Chapter 22 (SB 17), Acts of the 57th 
Legislature, 3rd Called Session, 1962 (Article 6228a-5, Vernon's 
Texas Civil Statutes), is amended by adding Sections 9A and 9B to 
read as follows:
	Sec. 9A.  (a)  A person may not enter into or renew a contract 
with an educational institution to provide services for or 
administer a plan offered by the institution under Section 403(b), 
Internal Revenue Code of 1986, if the person is:
		(1)  a company that certifies to the retirement system 
under Section 5 or 8 of this Act;
		(2)  a company owned by or otherwise affiliated by 
common ownership or control with a company described by Subdivision 
(1) of this section; or
		(3)  an agent of a company described by Subdivision (1) 
or (2) of this section.
	(b)  This section does not apply to a contract entered into 
or renewed with an independent school district located in a county 
with a population of more than 3 million.
	Sec. 9B.  (a)  A person, other than an employee of an 
educational institution, or an affiliate of the person may not 
enter into or renew a contract under which the person is to provide 
services for or administer a plan offered by the institution under 
Section 403(b), Internal Revenue Code of 1986, unless the person:
		(1)  holds a license or certificate of authority issued 
by the Texas Department of Insurance;
		(2)  is registered as a securities dealer or agent or 
investment advisor with the State Securities Board; or
		(3)  is a financial institution that:                                  
			(A)  is authorized by state or federal law to 
exercise fiduciary powers; and
			(B)  has its main office, a branch office, or a 
trust office in this state.
	(b)  This section does not apply to a contract entered into 
or renewed with an independent school district located in a county 
with a population of more than 3 million.
	(2)  Renumber subsequent, existing SECTIONS of the bill 
accordingly.