Texas Senate Bill SB1762

Texas 2019 - 86th Regular

Caption

Relating to the location of real property executed in trust for the issuance of a license as a bail bond surety.

Impact

The bill's amendments are intended to provide a more streamlined process for individuals and corporations seeking to obtain licenses as bail bond sureties. By specifying the details around the real property required and the comprehensive documentation needed, the bill seeks to solidify an applicant's financial soundness and reliability before being granted a license. This is seen as a move to bolster accountability within the industry and to enhance consumer protection for those engaging with bail bond services.

Summary

Senate Bill 1762 addresses the application process for obtaining a bail bond surety license in Texas. It aims to update and clarify the existing legal framework surrounding the requirements for real property to be executed in trust as part of the licensing process. The bill modifies Section 1704.154 of the Occupations Code, outlining the necessary information and documentation required from applicants who wish to enter the bail bond business. This includes stipulations regarding the financial status of the applicants, supportive letters of recommendation, and the payment of a filing fee.

Contention

While the bill primarily focuses on licensing improvements for the bail bond industry, there may be discussions surrounding the implications of these changes on existing practitioners. Some stakeholders may argue that the new requirements could place a heavier burden on smaller operations or individual agents who may not have the same resources to meet the stricter criteria. As with many regulatory changes, the balance between ensuring adequate oversight and fostering a competitive business environment may become a point of contention among legislators and industry representatives.