1-1 By: Pitts (Senate Sponsor - Ellis) H.B. No. 2101 1-2 (In the Senate - Received from the House May 11, 1999; 1-3 May 12, 1999, read first time and referred to Committee on 1-4 Jurisprudence; May 14, 1999, reported favorably by the following 1-5 vote: Yeas 4, Nays 0; May 14, 1999, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to compliance by financial institutions with requests 1-9 relating to judgment debtors. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Chapter 31, Civil Practice and Remedies Code, is 1-12 amended by adding Section 31.010 to read as follows: 1-13 Sec. 31.010. TURNOVER BY FINANCIAL INSTITUTION. (a) A 1-14 financial institution that receives a request to turn over assets 1-15 or financial information of a judgment debtor to a judgment 1-16 creditor or a receiver under a turnover order or receivership under 1-17 Section 31.002 shall be provided and may rely on: 1-18 (1) a certified copy of the order or injunction of the 1-19 court; or 1-20 (2) a certified copy of the order of appointment of a 1-21 receiver under Section 64.001, including a certified copy of: 1-22 (A) any document establishing the qualification 1-23 of the receiver under Section 64.021; 1-24 (B) the sworn affidavit under Section 64.022; 1-25 and 1-26 (C) the bond under Section 64.023. 1-27 (b) A financial institution that complies with this section 1-28 is not liable for compliance with a court order, injunction, or 1-29 receivership authorized by Section 31.002 to: 1-30 (1) the judgment debtor; 1-31 (2) a party claiming through the judgment debtor; 1-32 (3) a co-depositor with the judgment debtor; or 1-33 (4) a co-borrower with the judgment debtor. 1-34 (c) A financial institution that complies with this section 1-35 is entitled to recover reasonable costs, including copying costs, 1-36 research costs, and, if there is a contest, reasonable attorney's 1-37 fees. 1-38 (d) In this section, "financial institution" means a state 1-39 or national bank, state or federal savings and loan association, 1-40 state or federal savings bank, state or federal credit union, 1-41 foreign bank, foreign bank agency, or trust company. 1-42 SECTION 2. This Act takes effect September 1, 1999, and 1-43 applies only to a court order, injunction, or receivership entered 1-44 or authorized on or after that date. 1-45 SECTION 3. The importance of this legislation and the 1-46 crowded condition of the calendars in both houses create an 1-47 emergency and an imperative public necessity that the 1-48 constitutional rule requiring bills to be read on three several 1-49 days in each house be suspended, and this rule is hereby suspended. 1-50 * * * * *