88R3062 ATP-D
By: Hinojosa H.B. No. 1056
A BILL TO BE ENTITLED
AN ACT
relating to the registration of financial institutions and
investment firms that lease residential real property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 92, Property Code, is
amended by adding Section 92.209 to read as follows:
Sec. 92.209. REGISTRY OF CERTAIN LANDLORDS. (a) In this
section:
(1) "Financial institution" has the meaning assigned
by Section 201.101, Finance Code.
(2) "Investment firm" means a corporation or trust
engaged in the business of investing the pooled capital of
investors in financial securities.
(b) A financial institution or investment firm that owns and
offers for lease a dwelling in this state must register with the
comptroller. The registration must contain the name of the
institution or firm, the number of dwellings owned in each county,
and any other information required by the comptroller by rule.
(c) The comptroller shall compile and maintain the
information in a registry that is available in a searchable format
on its Internet website.
(d) The comptroller may notify any appropriate regulatory
authority regarding a person's failure to register as required by
Subsection (b).
(e) The comptroller shall adopt rules as necessary to
implement and administer this section, including rules
establishing deadlines for registration under this section.
SECTION 2. This Act takes effect January 1, 2024.