TO: | Honorable Joe Deshotel, Chair, House Committee on Business & Industry |
FROM: | John S O'Brien, Director, Legislative Budget Board |
IN RE: | SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended |
The bill would amend parts of the Texas Business Organizations Code. It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships. The Secretary of State would need to update form instructions associated with this bill. It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
Source Agencies: | 304 Comptroller of Public Accounts, 307 Secretary of State
|
LBB Staff: | JOB, AG, MS, BTA
|