| 1 | 1 | | 84R10954 LED-F |
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| 2 | 2 | | By: Guillen H.B. No. 3642 |
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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 the provision by a notary public of certain services |
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| 8 | 8 | | related to the closing of transactions. |
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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. Subchapter A, Chapter 406, Government Code, is |
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| 11 | 11 | | amended by adding Section 406.026 to read as follows: |
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| 12 | 12 | | Sec. 406.026. SIGNING SERVICES. (a) In this section, the |
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| 13 | 13 | | term "signing services" means services enabling the process of |
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| 14 | 14 | | signing and closing contracts, sales, loans, Internet |
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| 15 | 15 | | transactions, and other transactions and making transaction |
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| 16 | 16 | | disbursements, whether in electronic or paper form. |
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| 17 | 17 | | (b) A person may provide signing services through an office |
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| 18 | 18 | | or agent and may employ a notary public for that purpose. |
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| 19 | 19 | | (c) A notary public providing a signing service listed under |
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| 20 | 20 | | Section 406.024 may charge the fee provided by that section. A |
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| 21 | 21 | | notary public providing a signing service other than a service |
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| 22 | 22 | | listed under Section 406.024 may charge a fee that is agreed on by |
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| 23 | 23 | | the parties to the transaction. |
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| 24 | 24 | | (d) A person who provides the signing services of a notary |
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| 25 | 25 | | public under this section may serve as a party's payment agent or |
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| 26 | 26 | | receiving agent for funds that are related to the closing of the |
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| 27 | 27 | | transaction and are binding on the party as principal without being |
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| 28 | 28 | | considered a money services business for the purpose of Chapter |
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| 29 | 29 | | 151, Finance Code. |
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| 30 | 30 | | SECTION 2. This Act takes effect immediately if it receives |
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| 31 | 31 | | a vote of two-thirds of all the members elected to each house, as |
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| 32 | 32 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 33 | 33 | | Act does not receive the vote necessary for immediate effect, this |
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| 34 | 34 | | Act takes effect September 1, 2015. |
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