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A BILL TO BE ENTITLED
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AN ACT
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relating to the procedures for payment of property owners' |
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association assessments and related costs. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 209, Property Code, is amended by adding |
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Section 209.0081 to read as follows: |
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Sec. 209.0081. PRIORITY OF PAYMENTS. Unless otherwise |
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provided in writing by the property owner at the time a payment is |
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made, a payment received by a property owners' association from the |
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owner shall be applied to the owner's debt in the following order of |
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priority: |
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(1) any delinquent assessment; |
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(2) any current assessment; |
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(3) any attorney's fees incurred by the association |
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associated solely with assessments or any other charge that could |
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provide the basis for foreclosure; |
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(4) any fines assessed by the association; |
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(5) any attorney's fees incurred by the association |
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that are not subject to Subdivision (3); and |
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(6) any other amount owed to the association. |
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SECTION 2. Section 209.0081, Property Code, as added by |
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this Act, applies only to a payment received by a property owners' |
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association on or after the effective date of this Act. A payment |
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received by a property owners' association before the effective |
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date of this Act is governed by the law in effect immediately before |
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the effective date of this Act, and that law is continued in effect |
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for that purpose. |
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SECTION 3. This Act takes effect September 1, 2009. |