| 1 | 1 | | S.B. No. 1712 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | AN ACT |
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| 5 | 5 | | relating to the purchase, sale, or lease of real property on behalf |
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| 6 | 6 | | of a limited partnership or a limited liability company. |
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| 7 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 8 | 8 | | SECTION 1. Section 1101.005, Occupations Code, is amended |
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| 9 | 9 | | to read as follows: |
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| 10 | 10 | | Sec. 1101.005. APPLICABILITY OF CHAPTER. This chapter does |
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| 11 | 11 | | not apply to: |
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| 12 | 12 | | (1) an attorney licensed in this state; |
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| 13 | 13 | | (2) an attorney-in-fact authorized under a power of |
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| 14 | 14 | | attorney to conduct not more than three real estate transactions |
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| 15 | 15 | | annually; |
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| 16 | 16 | | (3) a public official while engaged in official |
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| 17 | 17 | | duties; |
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| 18 | 18 | | (4) an auctioneer licensed under Chapter 1802 while |
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| 19 | 19 | | conducting the sale of real estate by auction if the auctioneer does |
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| 20 | 20 | | not perform another act of a broker; |
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| 21 | 21 | | (5) a person conducting a real estate transaction |
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| 22 | 22 | | under a court order or the authority of a will or written trust |
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| 23 | 23 | | instrument; |
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| 24 | 24 | | (6) a person employed by an owner in the sale of |
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| 25 | 25 | | structures and land on which structures are located if the |
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| 26 | 26 | | structures are erected by the owner in the course of the owner's |
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| 27 | 27 | | business; |
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| 28 | 28 | | (7) an on-site manager of an apartment complex; |
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| 29 | 29 | | (8) an owner or the owner's employee who leases the |
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| 30 | 30 | | owner's improved or unimproved real estate; [or] |
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| 31 | 31 | | (9) a transaction involving: |
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| 32 | 32 | | (A) the sale, lease, or transfer of a mineral or |
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| 33 | 33 | | mining interest in real property; |
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| 34 | 34 | | (B) the sale, lease, or transfer of a cemetery |
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| 35 | 35 | | lot; |
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| 36 | 36 | | (C) the lease or management of a hotel or motel; |
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| 37 | 37 | | or |
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| 38 | 38 | | (D) the sale of real property under a power of |
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| 39 | 39 | | sale conferred by a deed of trust or other contract lien; |
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| 40 | 40 | | (10) the purchase, sale, or lease of real property for |
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| 41 | 41 | | a limited partnership by: |
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| 42 | 42 | | (A) a general partner of the limited partnership; |
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| 43 | 43 | | (B) an employee of a general partner of the |
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| 44 | 44 | | limited partnership who negotiates the transaction in the course of |
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| 45 | 45 | | employment; or |
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| 46 | 46 | | (C) an employee of the limited partnership who |
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| 47 | 47 | | negotiates the transaction in the course of employment; or |
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| 48 | 48 | | (11) the purchase, sale, or lease of real property for |
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| 49 | 49 | | a limited liability company by: |
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| 50 | 50 | | (A) a manager or managing member of the limited |
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| 51 | 51 | | liability company; |
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| 52 | 52 | | (B) an employee of a manager or managing member |
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| 53 | 53 | | of the limited liability company who negotiates the transaction in |
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| 54 | 54 | | the course of employment; or |
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| 55 | 55 | | (C) an employee or member of the limited |
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| 56 | 56 | | liability company who negotiates the transaction in the course of |
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| 57 | 57 | | employment. |
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| 58 | 58 | | SECTION 2. This Act takes effect immediately if it receives |
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| 59 | 59 | | a vote of two-thirds of all the members elected to each house, as |
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| 60 | 60 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 61 | 61 | | Act does not receive the vote necessary for immediate effect, this |
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| 62 | 62 | | Act takes effect September 1, 2023. |
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| 63 | 63 | | ______________________________ ______________________________ |
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| 64 | 64 | | President of the Senate Speaker of the House |
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| 65 | 65 | | I hereby certify that S.B. No. 1712 passed the Senate on |
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| 66 | 66 | | May 2, 2023, by the following vote: Yeas 31, Nays 0. |
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| 67 | 67 | | ______________________________ |
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| 68 | 68 | | Secretary of the Senate |
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| 69 | 69 | | I hereby certify that S.B. No. 1712 passed the House on |
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| 70 | 70 | | May 24, 2023, by the following vote: Yeas 134, Nays 4, one |
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| 71 | 71 | | present not voting. |
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| 72 | 72 | | ______________________________ |
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| 73 | 73 | | Chief Clerk of the House |
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| 74 | 74 | | Approved: |
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| 75 | 75 | | ______________________________ |
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| 76 | 76 | | Date |
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| 77 | 77 | | ______________________________ |
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| 78 | 78 | | Governor |
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