1-1 AN ACT 1-2 relating to compliance by financial institutions with requests 1-3 relating to judgment debtors. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 31, Civil Practice and Remedies Code, is 1-6 amended by adding Section 31.010 to read as follows: 1-7 Sec. 31.010. TURNOVER BY FINANCIAL INSTITUTION. (a) A 1-8 financial institution that receives a request to turn over assets 1-9 or financial information of a judgment debtor to a judgment 1-10 creditor or a receiver under a turnover order or receivership under 1-11 Section 31.002 shall be provided and may rely on: 1-12 (1) a certified copy of the order or injunction of the 1-13 court; or 1-14 (2) a certified copy of the order of appointment of a 1-15 receiver under Section 64.001, including a certified copy of: 1-16 (A) any document establishing the qualification 1-17 of the receiver under Section 64.021; 1-18 (B) the sworn affidavit under Section 64.022; 1-19 and 1-20 (C) the bond under Section 64.023. 1-21 (b) A financial institution that complies with this section 1-22 is not liable for compliance with a court order, injunction, or 1-23 receivership authorized by Section 31.002 to: 1-24 (1) the judgment debtor; 2-1 (2) a party claiming through the judgment debtor; 2-2 (3) a co-depositor with the judgment debtor; or 2-3 (4) a co-borrower with the judgment debtor. 2-4 (c) A financial institution that complies with this section 2-5 is entitled to recover reasonable costs, including copying costs, 2-6 research costs, and, if there is a contest, reasonable attorney's 2-7 fees. 2-8 (d) In this section, "financial institution" means a state 2-9 or national bank, state or federal savings and loan association, 2-10 state or federal savings bank, state or federal credit union, 2-11 foreign bank, foreign bank agency, or trust company. 2-12 SECTION 2. This Act takes effect September 1, 1999, and 2-13 applies only to a court order, injunction, or receivership entered 2-14 or authorized on or after that date. 2-15 SECTION 3. The importance of this legislation and the 2-16 crowded condition of the calendars in both houses create an 2-17 emergency and an imperative public necessity that the 2-18 constitutional rule requiring bills to be read on three several 2-19 days in each house be suspended, and this rule is hereby suspended. _______________________________ _______________________________ President of the Senate Speaker of the House I certify that H.B. No. 2101 was passed by the House on May 11, 1999, by a non-record vote. _______________________________ Chief Clerk of the House I certify that H.B. No. 2101 was passed by the Senate on May 26, 1999, by the following vote: Yeas 30, Nays 0. _______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor