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SB 28, 64th R.S.
Relating to non-profit prepaid legal services corporations under the supervision and regulation of the State Board of Insurance and to issuance of contracts for prepaid legal services; placing certain duties, responsibilites, and restrictions on corporations operating under this chapter; prescribing their mode of operation and financing; authorizing certain participation contracts and agreements; prescribing the duties and powers of the State Board of Insurance in carrying out the provisions of the Act; providing for bonding of officers and employees; providing for a tax on corporations operating under this chapter in lieu of any franchise or gross-receipts tax, the proceeds of such tax to be kept in a separate fund in the State Treasury to be known as the Prepaid Legal Services Fund; providing the use and disposition of the fund; stating the relationship of the provisions of this Act to the Texas Miscellaneous Corporation Laws Act, the Texas Non-profit Corporation Act and designated provisions of the Insurance Code.
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