77R12266 MTB-F
By Madla S.B. No. 1407
Substitute the following for S.B. No. 1407:
By Hartnett C.S.S.B. No. 1407
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the sale of livestock by a personal representative of a
1-3 decedent's estate.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 335, Texas Probate Code, is amended to
1-6 read as follows:
1-7 Sec. 335. SPECIAL PROVISIONS PERTAINING TO LIVESTOCK. When
1-8 the personal representative of an estate has in his possession any
1-9 livestock which he deems necessary or to the advantage of the
1-10 estate to sell, he may, in addition to any other method provided by
1-11 law for the sale of personal property, obtain authority from the
1-12 court in which the estate is pending to sell such livestock through
1-13 a bonded livestock commission merchant, or a bonded livestock
1-14 auction commission merchant. Such authority may be granted by the
1-15 court upon written and sworn application by the personal
1-16 representative, or by any person interested in the estate,
1-17 describing the livestock sought to be sold, and setting out the
1-18 reasons why it is deemed necessary or to the advantage of the
1-19 estate that the application be granted. The court shall forthwith
1-20 consider any such application, and may, in its discretion, hear
1-21 evidence for or against the same, with or without notice, as the
1-22 facts warrant. If the application be granted, the court shall
1-23 enter its order to that effect, and shall authorize delivery of the
1-24 livestock to any bonded livestock commission merchant or bonded
2-1 livestock auction commission merchant for sale in the regular
2-2 course of business. The commission merchant shall be paid his
2-3 usual and customary charges, not to exceed five [three] per cent of
2-4 the sale price, for the sale of such livestock. A report of such
2-5 sale, supported by a verified copy of the merchant's account of
2-6 sale, shall be made promptly by the personal representative to the
2-7 court, but no order of confirmation by the court is required to
2-8 pass title to the purchaser of such livestock.
2-9 SECTION 2. This Act takes effect September 1, 2001, and
2-10 applies only to the estate of a decedent who dies on or after that
2-11 date. The estate of a decedent who dies before the effective date
2-12 of this Act is governed by the law in effect on the date of the
2-13 decedent's death, and the former law is continued in effect for
2-14 that purpose.