By: Harris of Tarrant S.B. No. 122
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the appraisal of certain property listed as security in
1-2 an application for a bail bondsman license.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 6, Chapter 550, Acts of the 63rd
1-5 Legislature, Regular Session, 1973 (Article 2372p-3, Vernon's Texas
1-6 Civil Statutes), is amended by amending Subsections (a) and (f) and
1-7 adding Subsection (i) to read as follows:
1-8 (a) Any person desiring to act as a bondsman in any court of
1-9 the county shall file with the County Bail Bond Board a sworn
1-10 application for a license. The application shall be in such form
1-11 and shall contain such information as the board may prescribe
1-12 including the following:
1-13 (1) The name, age, and address of the applicant, and
1-14 if the applicant is a surety corporation, and whether chartered or
1-15 admitted to do business in this state and qualified to write
1-16 fidelity, guaranty, and surety bonds under the Texas Insurance
1-17 Code, as amended;
1-18 (2) The name under which the business shall be
1-19 conducted;
1-20 (3) The name of the place or places, including street
1-21 address and city, wherein the business is to be conducted;
1-22 (4) A statement listing any nonexempt real estate
1-23 owned by the applicant that the applicant intends to convey in
1-24 trust to the board to secure payment of any obligations incurred by
2-1 the applicant in the bonding business if the license is granted.
2-2 The following shall be included for each parcel listed:
2-3 (A) a legal description equivalent to the
2-4 description required to convey the property by general warranty
2-5 deed;
2-6 (B) current statements from each taxing unit
2-7 with power to assess or collect taxes against the property
2-8 indicating that there are no outstanding tax liens against the
2-9 property and indicating the net value of the property according to
2-10 the current appraisal made by the local appraisal district <a real
2-11 estate appraiser who is a member in good standing of a nationally
2-12 recognized professional appraiser society or trade organization
2-13 that has an established code of ethics, educational program, and
2-14 professional certification program>, accompanied by a statement
2-15 from the applicant agreeing to keep all taxes paid on the property
2-16 while it remains in trust;
2-17 (C) a statement of the applicant that he will
2-18 not further encumber the property after conveying it in trust to
2-19 the County Bail Bond Board, without notifying and obtaining the
2-20 permission of the board;
2-21 (D) an agreement to insure and keep current the
2-22 insurance on any improvements on the property against any damage or
2-23 destruction while the property remains in trust, in the full amount
2-24 of the value claimed for the improvements;
2-25 (E) a statement indicating whether the applicant
2-26 is married and, if so, a sworn statement from the spouse agreeing
2-27 to transfer to the board, as a part of the trust, any right, title,
3-1 or interest that the spouse may have in the property; and the
3-2 spouse must execute the deeds of trust to any community property
3-3 placed in the security deposit required under this section;
3-4 (5) A statement indicating the amount of cash or cash
3-5 value of any certificate of deposit or cashier's checks which the
3-6 applicant intends to place on deposit with the county treasurer to
3-7 secure payment of any obligations incurred by the applicant in the
3-8 bonding business if the license is granted;
3-9 (6) A complete, sworn financial statement;
3-10 (7) A declaration by the applicant that he will comply
3-11 with this Act and the rules prescribed by the board.
3-12 (f) Upon notice from the board that the application has been
3-13 tentatively approved, the applicant shall then:
3-14 (1) deposit with the county treasurer of the county in
3-15 which the license is to be issued a cashier's check, certificate of
3-16 deposit, cash, or cash equivalent in the amount indicated by the
3-17 applicant under Subdivision (5) of Subsection (a) of Section 6 of
3-18 this Act but in no event less than $50,000 except in counties with
3-19 populations of less than 250,000 persons by the most recent federal
3-20 census, the amount for applicants in said counties shall be $10,000
3-21 to be held in a special fund to be called the bail security fund;
3-22 or
3-23 (2) execute in trust to the board deeds to the
3-24 property listed by the applicant under Subdivision (4) of
3-25 Subsection (a) of Section 6 of this Act, which property shall be
3-26 valued in the amount indicated on an appraisal by the local
3-27 appraisal district <a real estate appraiser who is a member in good
4-1 standing of a nationally recognized professional appraiser society
4-2 or trade organization that has an established code of ethics,
4-3 educational program, and professional certification program>, but
4-4 in no event less than $50,000 valuation, except in counties with
4-5 populations of less than 250,000 persons by the most recent federal
4-6 census, the amount for applicants in said counties shall be
4-7 $10,000, the condition of the trust being that the property may be
4-8 sold to satisfy any final judgment forfeitures that may be made in
4-9 bonds on which the licensee is surety after such notice and upon
4-10 such conditions as are required by the Code of Criminal Procedure,
4-11 1965, as amended, in bond forfeiture cases; the board shall file
4-12 the deeds of trust in the records of each county in which the
4-13 property is located, and the applicant shall pay the filing fees.
4-14 (3) If the licensee is a corporation, it shall furnish
4-15 to the sheriff an irrevocable letter of credit as a cash equivalent
4-16 to satisfy any final judgment of forfeiture that may be made on any
4-17 bonds on which the corporate licensee is surety.
4-18 (i) An applicant for a bail bondsman license may appeal the
4-19 net value of real property listed under Subdivision (4) of
4-20 Subsection (a) of this section by providing the board with a
4-21 current appraisal of the property made by a real estate appraiser
4-22 who is licensed or certified under the Texas Appraiser Licensing
4-23 and Certification Act (Article 6573a.2, Vernon's Texas Civil
4-24 Statutes) and its subsequent amendments.
4-25 SECTION 2. This Act takes effect September 1, 1993, and
4-26 applies only to a license issued or renewed by a county bail bond
4-27 board after that date.
5-1 SECTION 3. The importance of this legislation and the
5-2 crowded condition of the calendars in both houses create an
5-3 emergency and an imperative public necessity that the
5-4 constitutional rule requiring bills to be read on three several
5-5 days in each house be suspended, and this rule is hereby suspended.