|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to disclosure of certain information by a property owners' |
|
association. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 207.003, Property Code, is amended by |
|
amending Subsections (c) and (d) and adding Subsection (f) to read |
|
as follows: |
|
(c) A property owners' association may charge a reasonable |
|
fee to assemble, copy, and deliver the information required by this |
|
section and may charge a reasonable fee to prepare and deliver an |
|
update of a resale certificate under Subsection (f). |
|
(d) The property owners' association shall deliver the |
|
information required by Subsection (a) or (f) to the person |
|
specified in the written request. A written request that does not |
|
specify the name and location to which the information is to be sent |
|
is not effective. The property owners' association may deliver the |
|
information required by Subsection (a) and any update to the resale |
|
certificate required by Subsection (f) by mail, hand delivery, or |
|
alternative delivery means specified in the written request. |
|
(f) Not later than the seventh day after the date a written |
|
request for an update to a resale certificate delivered under |
|
Subsection (a) is received from an owner, owner's agent, or title |
|
insurance company or its agent acting on behalf of the owner, the |
|
property owners' association shall deliver to the owner, owner's |
|
agent, or title insurance company or its agent an updated resale |
|
certificate that contains the following information: |
|
(1) if a right of first refusal or other restraint on |
|
sale is contained in the restrictions, a statement of whether the |
|
property owners' association waives the restraint on sale; |
|
(2) the status of any unpaid special assessments, |
|
dues, or other payments attributable to the owner's property; and |
|
(3) any changes to the information provided in the |
|
resale certificate issued under Subsection (a). |
|
SECTION 2. The change in law made by this Act applies only |
|
to a request for an updated resale certificate received by a |
|
property owners' association on or after the effective date of this |
|
Act. A request received before the effective date of this Act is |
|
governed by the law in effect immediately before the effective date |
|
of this Act, and that law is continued in effect for that purpose. |
|
SECTION 3. This Act takes effect September 1, 2009. |