BILL ANALYSIS |
H.B. 534 |
By: Anchia |
Business & Industry |
Committee Report (Unamended) |
BACKGROUND AND PURPOSE
Currently, under Property Code provisions, a person other than a tenant who cosigns or guarantees a lease is potentially liable for the duration of a tenant's lease term and subsequent renewals of the lease.
H.B. 534 amends the Property Code to hold a person other than a tenant who cosigns or guarantees a lease liable only for the original lease term.
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RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
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ANALYSIS
H.B. 534 amends the Property Code to restrict the duration of liability of a person other than a tenant who cosigns or guarantees a residential lease to only the original lease term. The bill establishes that a provision purporting to renew for an additional lease term the liability of a person other than a tenant who cosigns or guarantees a residential lease is void.
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EFFECTIVE DATE
September 1, 2009.
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