SRC-SLL S.B. 302 75(R)    BILL ANALYSIS


Senate Research CenterS.B. 302
By: Brown
Jurisprudence
2-10-97
As Filed


DIGEST 

Currently, Texas law does not extend fiduciary responsibility to retailers
who enter into consignment fuel agreements with petroleum marketers.  When
retailers refuse to forward the marketer's share of the proceeds after the
sale, there is no criminal penalty available.  This bill will provide that
a fiduciary includes a commercial bailee who is a party in a motor fuel
sales agreement with a distributor or supplier. 

PURPOSE

As proposed, S.B. 302 defines fiduciary to include a commercial bailee who
is a party in a motor fuel sales agreement with a distributor or supplier. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 32.45(a)(1), Penal Code, to redefine "fiduciary"
to include any other person acting in a fiduciary capacity, but not a
commercial bailee unless the commercial bailee is a party in a motor fuel
sales agreement with a distributor or supplier, as those terms are defined
by Section 153.001, Tax Code. 

SECTION 2. Makes application of this Act prospective.

SECTION 3. Effective date: September 1, 1997.

SECTION 4. Emergency clause.