The Supreme Court on Tuesday rejected Allstate Corp.'s challenge to a Texas law that restricts insurance company ownership of auto collision repair shops.
Allstate sought review of its case at the high court, arguing the Texas law violates the constitution. A federal appeals court has upheld the law, which bars Allstate from opening new collision repair shops.
The law, enacted in 2003, also restricts Allstate from participating in the business of 15 repair shops it owns in the state. Allstate purchased Sterling Collision Centers in 2001, a move that gave it nationwide entry into the automobile repair business.
The company has argued the law, which aims to protect smaller in-state collision repair companies from insurance industry competition, violates restrictions the Constitution places on state regulation of interstate commerce. [...]
Showing posts with label Texas. Show all posts
Showing posts with label Texas. Show all posts
The Texas Tomorrow Fund II
A scaled-back version of the Texas Tomorrow Fund – the state's prepaid college tuition program that has been closed to newcomers for four years – would be created in the fall of 2008 under legislation approved Thursday by the Senate.The new program, called Texas Tomorrow Fund II, would again allow parents to purchase a future college education for their children at today's prices – though the costs would be considerably higher and the state would no longer guarantee the tuition contracts.
The 80th Texas Legislature recently passed House Bill 3900 that authorizes a new prepaid tuition plan, the Tomorrow Fund II. The Tomorrow Fund II will offer prepaid tuition contracts starting September 1, 2008 and will be a separate program from the existing Texas Guaranteed Tuition Program. If you want to start saving for college expenses sooner, you should consider Texas College Savings Plan, which is a qualified 529 savings plan offered through the state.
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