86R5251 MAW-D
By: Martinez H.B. No. 1024
A BILL TO BE ENTITLED
AN ACT
relating to real property executed in trust for the issuance of a
license as a bail bond surety.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1704.155, Occupations Code, is amended
to read as follows:
Sec. 1704.155. REAL PROPERTY LIST. A list of nonexempt real
property required under Section 1704.154(b)(3) must, for each
parcel listed, include:
(1) a legal description of the property that would be
sufficient to convey the property by general warranty deed;
(2) a current statement from each taxing unit
authorized to impose taxes on the property showing that there is no
outstanding tax lien against the property;
(3) proof of the issuance of a title insurance policy;
(4) at the option of the applicant, either the
property's:
(A) net value according to a current appraisal
made by a real estate appraiser who is a member in good standing of a
nationally recognized professional appraiser society or trade
organization that has an established code of ethics, educational
program, and professional certification program; or
(B) value according to a statement from the
county from the county's most recent certified tax appraisal roll;
(5) [(4)] a statement by the applicant that, while the
property remains in trust, the applicant:
(A) agrees to pay the taxes on the property;
(B) will not further encumber the property unless
the applicant notifies the board of the applicant's intent to
encumber the property and the board permits the encumbrance; and
(C) agrees to maintain insurance on any
improvements on the property against damage or destruction in the
full amount of the value claimed for the improvements;
(6) [(5)] a statement of whether the applicant is
married; and
(7) [(6)] if the applicant is married, a sworn
statement from the applicant's spouse agreeing to transfer to the
board, as a part of the trust, any right, title, or interest that
the spouse may have in the property.
SECTION 2. The change in law made by this Act to Section
1704.155, Occupations Code, applies only to an application for a
bail bond surety license that is submitted on or after the effective
date of this Act. An application submitted before the effective
date of this Act is governed by the law in effect on the date the
application was submitted, and the former law is continued in
effect for that purpose.
SECTION 3. This Act takes effect September 1, 2019.