of someonewho might hold a "controllinginterest",but is true of the ordinarymember.
One who makes depositsor borrows from a bank and one who ovns stock in an insurancecompany1s not required,per se, to file the 3(b) affidavit. For the purposesof this Act there is no justifiabledistinc- tion betweenthe bank depositoror borrowerend membershipin a credit wan. Nor Is there a dlstlnctionbetweenownershipof stock in a corpo- rationand ownershipof a mutual insurancecompanypolicy.
Furthermore,the use of the word, "member",is not ordinarily and usuallyappliedin connectionwith a corporation.Creditunionsunder the jurisdiction of the BankingCommlsslonare corporations.Most mutual Insurancecompaniesare corporations.Article 10, Section1, V.C.S.,states:
'The ordinarysignification shallbe appliedto words, except words of art or words connectedwith a particulartrade or subject matter,when they shallhave the signification attachedto them by expertsin such art or trade with referenceto subjectmatter."
The word, "member",Is not a word of art and the ordinarymeaning shouldbe attachedto it. It would be a strainedinterpretation to apply it to corporations.The Legislaturemeant to apply the word, "membership", to firms,partnerships,and other businessentitiesor associations.
The 1957 amendment2to Article 1.06 of the InsuranceCode is calculatedto prevent substantialconflictsof Interestsin the State Board of Insurance. It specificallystatesthat the inellgibi1ity.shal.l not extendto or apply to personswho are merely insuredby insurer,which would necessarilyincludepersonswho are holdersof mutual insurance policies. This statuteis in pari materiato H.B. 3, and shouldbe con- sideredas definitiveof the legislativeintent. It is to be noted that the amendmentto Article1.06 sets up more rigid standardsthan does House Bill 3. This supportsthe conclusionthat the legislators,in enacting House Bill 3, did not contemplatedisclosureof ownershipof mutual in- surancepolicies.
The only remainingquestionIs: :; *. . IA _:
Eon. Zollie Steahley,page 7 (WW-202)
"7. Is au officeror employeeof a State agency,leg- islatoror leglslatlveemployee,requiredto file the sworn statementunder Section3(b) if he is an officer,agent,or member of, or owns a controllinginterestin auy corporation, firm, partnership,or other businessentitywhich Is under the jurisdictionof a State agency other than the Board of InsuranceCommissioners, the BankingDepartment., the Rail- road Conmission,andTexas Liquor ControlBoard; for Instance, the State Departmentof Health?"
The Act is clear. Section2 states:
"In this Act unlessthe contextotherwiserequires: . . .
"(b) 'Regulatory agency'means the Board of Iusurance Commissioners, BanhlngDepartment,RailroadConmIssion,and Texas Liquor ControlBoard.*
By specificallynamingthese agenciesthe Legislatureexcluded agenciesnot named. This Act providesdisciplinary measuresfor those employeeswho fail to complytith Section3(b). It shouldbe construed in suchawaythatthe enployeewouldknowwhat.regulatoryagenclesare intendedto be coveredby Section3(b). That is the purposeof the defl- nltion. To wly that other agenciesthau'thosensmed are includedwould &feat this purpose. If the Legislaturedesiresto broadenthe applica- tion it can and shoulddo so. This questionmust be answeredin the nega- tive.
Withtithe meaningof H.B. 3 the State Bar of Texas is not a part of the ExecutiveBe- partment. The variousRiver Authorities, such as the Lower ColoradoRiver Authority, are not State agencies. The Texas Comnis- sion on HigherEducationis a State agency.
An officeror employeeof a State agency, legislatoror legislativeemployeewho is a minoritystockholderin a corporation under the jurisdictionof a State regula- tory agency is requiredto file the sworn statementrequiredby Section3(b) of H.B. 3 if he owns a controllingInterestin such corporation.
An officeror employeeof a State agencyor legislatoror legislativeemployeewho is Hon. Zollie Steakley,page 8 (UW-202)
simplya member of a