HBA-MSH S.B. 1288 77(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 1288 By: Carona Civil Practices 5/5/2001 Engrossed BACKGROUND AND PURPOSE Currently, the Texas Miscellaneous Corporation Laws Act extends a limited indemnification to board members of a corporation formed under one of 13 different Acts. Senate Bill 1288 adds the Texas Housing Finance Corporations Act to this indemnification list. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS Senate Bill 1288 amends the Texas Miscellaneous Corporations Laws Act to limit the liability of the directors of a corporation organized under the Texas Housing Finance Corporations Act. EFFECTIVE DATE On passage, or if the Act does not receive the necessary vote, the Act takes effect September 1, 2001.