SRC-JBJ S.B. 1407 77(R)BILL ANALYSIS Senate Research CenterS.B. 1407 By: Madla Jurisprudence 5/30/2001 Enrolled DIGEST AND PURPOSE Section 335 of the Texas Probate Code establishes a procedure by which the trustees of an estate can sell livestock which is part of the estate. S.B. 1407 amends that provision to require the commission merchant to be paid the merchant's usual and customary charges, not to exceed five, rather than three, percent of the sale price, for the sale of such livestock. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 335, Texas Probate Code, to require the commission merchant to be paid the merchant's usual and customary charges, not to exceed five, rather than three, percent of the sale price, for the sale of such livestock. SECTION 2. Effective date: September 1, 2001. Makes application of this Act prospective.