83R1769 AJA-D
By: Hernandez Luna H.B. No. 503
A BILL TO BE ENTITLED
AN ACT
relating to the ability of a homeowners' association board member
to contract with the association.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 209.00591, Property Code, is amended by
adding Subsection (d) to read as follows:
(d) A board member may not enter into a contract with the
association under which the board member receives financial
compensation for goods or services provided to the association.
SECTION 2. (a) This section takes effect only if the Act of
the 83rd Legislature, Regular Session, 2013, relating to
nonsubstantive additions to and corrections in enacted codes does
not become law.
(b) Section 209.00592, Property Code, as added by Chapter
1217 (S.B. 472), Acts of the 82nd Legislature, Regular Session,
2011, is amended by adding Subsection (c) to read as follows:
(c) A board member may not enter into a contract with the
association under which the board member receives financial
compensation for goods or services provided to the association.
SECTION 3. The change in law made by this Act applies only
to a contract entered into or renewed on or after the effective date
of this Act.
SECTION 4. This Act takes effect September 1, 2013.