| 1 | 1 | | 81R6312 AJA-F |
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| 2 | 2 | | By: England H.B. No. 2395 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to disclosure of certain information by a property owners' |
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| 8 | 8 | | association. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 207.003, Property Code, is amended by |
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| 11 | 11 | | amending Subsections (c) and (d) and adding Subsection (f) to read |
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| 12 | 12 | | as follows: |
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| 13 | 13 | | (c) A property owners' association may charge a reasonable |
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| 14 | 14 | | fee to assemble, copy, and deliver the information required by this |
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| 15 | 15 | | section and may charge a reasonable fee to prepare and deliver an |
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| 16 | 16 | | update of a resale certificate under Subsection (f). |
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| 17 | 17 | | (d) The property owners' association shall deliver the |
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| 18 | 18 | | information required by Subsection (a) or (f) to the person |
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| 19 | 19 | | specified in the written request. A written request that does not |
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| 20 | 20 | | specify the name and location to which the information is to be sent |
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| 21 | 21 | | is not effective. The property owners' association may deliver the |
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| 22 | 22 | | information required by Subsection (a) and any update to the resale |
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| 23 | 23 | | certificate required by Subsection (f) by mail, hand delivery, or |
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| 24 | 24 | | alternative delivery means specified in the written request. |
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| 25 | 25 | | (f) Not later than the seventh day after the date a written |
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| 26 | 26 | | request for an update to a resale certificate delivered under |
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| 27 | 27 | | Subsection (a) is received from an owner, owner's agent, or title |
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| 28 | 28 | | insurance company or its agent acting on behalf of the owner, the |
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| 29 | 29 | | property owners' association shall deliver to the owner, owner's |
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| 30 | 30 | | agent, or title insurance company or its agent an updated resale |
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| 31 | 31 | | certificate that contains the following information: |
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| 32 | 32 | | (1) if a right of first refusal or other restraint on |
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| 33 | 33 | | sale is contained in the restrictions, a statement of whether the |
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| 34 | 34 | | property owners' association waives the restraint on sale; |
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| 35 | 35 | | (2) the status of any unpaid special assessments, |
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| 36 | 36 | | dues, or other payments attributable to the owner's property; and |
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| 37 | 37 | | (3) any changes to the information provided in the |
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| 38 | 38 | | resale certificate issued under Subsection (a). |
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| 39 | 39 | | SECTION 2. The change in law made by this Act applies only |
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| 40 | 40 | | to a request for an updated resale certificate received by a |
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| 41 | 41 | | property owners' association on or after the effective date of this |
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| 42 | 42 | | Act. A request received before the effective date of this Act is |
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| 43 | 43 | | governed by the law in effect immediately before the effective date |
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| 44 | 44 | | of this Act, and that law is continued in effect for that purpose. |
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| 45 | 45 | | SECTION 3. This Act takes effect September 1, 2009. |
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