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A BILL TO BE ENTITLED
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AN ACT
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relating to the payment of cy pres funds in an action by the |
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attorney general. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Title 3, Civil Practice and Remedies Code, is |
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amended by adding Chapter 67 to read as follows: |
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CHAPTER 67. CY PRES FUNDS IN ACTION BY ATTORNEY GENERAL |
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Sec. 67.001. CY PRES FUNDS. (a) In an action brought by the |
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attorney general arising from conduct that is harmful to consumers |
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or to the public generally, the court may enter a judgment or order |
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for payment of cy pres funds. |
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(b) The attorney general shall retain funds that are |
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designated as cy pres funds under a court judgment or order and |
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shall deposit the funds in the cy pres account. |
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Sec. 67.002. CREATION OF CY PRES ACCOUNT. The cy pres |
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account is created as a dedicated account in the general revenue |
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fund in the state treasury. The account consists of cy pres funds |
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paid under a court judgment or order as provided by this chapter. |
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The attorney general shall administer the fund. |
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Sec. 67.003. USE OF CY PRES FUNDS. The attorney general may |
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distribute cy pres funds to nonprofit, charitable, or educational |
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entities to fund programs that provide assistance to consumers. |
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Sec. 67.004. COMMON LAW CY PRES. The provisions of this |
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chapter do not diminish the common law authority or other statutory |
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authority of the attorney general to seek and obtain cy pres |
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distribution from a court. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |