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A BILL TO BE ENTITLED
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AN ACT
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relating to the definition of a controlling person with respect to |
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the operation of certain assisted living facilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 247.005, Health and Safety Code, is |
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amended by adding Subsection (b-1) to read as follows: |
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(b-1) Notwithstanding any other provision of this section, |
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for purposes of this chapter, a controlling person of an assisted |
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living facility or of a management company or other business entity |
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described by Subsection (b)(1) that is a publicly traded |
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corporation or is controlled by a publicly traded corporation means |
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an officer or director of the corporation. The term does not |
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include a shareholder or lender of the publicly traded corporation. |
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SECTION 2. This Act takes effect September 1, 2009. |