| 1 | 1 | | 86R5251 MAW-D |
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| 2 | 2 | | By: Martinez H.B. No. 1024 |
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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 real property executed in trust for the issuance of a |
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| 8 | 8 | | license as a bail bond surety. |
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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 1704.155, Occupations Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | Sec. 1704.155. REAL PROPERTY LIST. A list of nonexempt real |
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| 13 | 13 | | property required under Section 1704.154(b)(3) must, for each |
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| 14 | 14 | | parcel listed, include: |
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| 15 | 15 | | (1) a legal description of the property that would be |
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| 16 | 16 | | sufficient to convey the property by general warranty deed; |
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| 17 | 17 | | (2) a current statement from each taxing unit |
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| 18 | 18 | | authorized to impose taxes on the property showing that there is no |
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| 19 | 19 | | outstanding tax lien against the property; |
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| 20 | 20 | | (3) proof of the issuance of a title insurance policy; |
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| 21 | 21 | | (4) at the option of the applicant, either the |
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| 22 | 22 | | property's: |
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| 23 | 23 | | (A) net value according to a current appraisal |
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| 24 | 24 | | made by a real estate appraiser who is a member in good standing of a |
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| 25 | 25 | | nationally recognized professional appraiser society or trade |
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| 26 | 26 | | organization that has an established code of ethics, educational |
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| 27 | 27 | | program, and professional certification program; or |
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| 28 | 28 | | (B) value according to a statement from the |
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| 29 | 29 | | county from the county's most recent certified tax appraisal roll; |
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| 30 | 30 | | (5) [(4)] a statement by the applicant that, while the |
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| 31 | 31 | | property remains in trust, the applicant: |
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| 32 | 32 | | (A) agrees to pay the taxes on the property; |
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| 33 | 33 | | (B) will not further encumber the property unless |
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| 34 | 34 | | the applicant notifies the board of the applicant's intent to |
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| 35 | 35 | | encumber the property and the board permits the encumbrance; and |
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| 36 | 36 | | (C) agrees to maintain insurance on any |
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| 37 | 37 | | improvements on the property against damage or destruction in the |
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| 38 | 38 | | full amount of the value claimed for the improvements; |
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| 39 | 39 | | (6) [(5)] a statement of whether the applicant is |
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| 40 | 40 | | married; and |
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| 41 | 41 | | (7) [(6)] if the applicant is married, a sworn |
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| 42 | 42 | | statement from the applicant's spouse agreeing to transfer to the |
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| 43 | 43 | | board, as a part of the trust, any right, title, or interest that |
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| 44 | 44 | | the spouse may have in the property. |
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| 45 | 45 | | SECTION 2. The change in law made by this Act to Section |
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| 46 | 46 | | 1704.155, Occupations Code, applies only to an application for a |
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| 47 | 47 | | bail bond surety license that is submitted on or after the effective |
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| 48 | 48 | | date of this Act. An application submitted before the effective |
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| 49 | 49 | | date of this Act is governed by the law in effect on the date the |
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| 50 | 50 | | application was submitted, and the former law is continued in |
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| 51 | 51 | | effect for that purpose. |
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| 52 | 52 | | SECTION 3. This Act takes effect September 1, 2019. |
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