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A BILL TO BE ENTITLED
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AN ACT
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relating to certain claims against persons licensed as real estate |
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brokers and salespersons. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 17.49, Business & Commerce Code, is |
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amended by adding Subsection (i) to read as follows: |
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(i) Nothing in this subchapter shall apply to a claim |
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against a person licensed as a broker or salesperson under Chapter |
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1101, Occupations Code, arising from an act or omission by the |
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person while acting as a broker or salesperson. This exemption does |
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not apply to: |
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(1) an express misrepresentation of a material fact |
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that cannot be characterized as advice, judgment, or opinion; |
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(2) a failure to disclose information in violation of |
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Section 17.46(b)(24); or |
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(3) an unconscionable action or course of action that |
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cannot be characterized as advice, judgment, or opinion. |
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SECTION 2. Subsection (i), Section 17.49, Business & |
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Commerce Code, as added by this Act, applies only to a claim arising |
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from an act or omission that occurs on or after the effective date |
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of this Act. A claim arising from an act or omission that occurred |
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before the effective date of this Act is governed by the law in |
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effect on the date the act or omission occurred, and the former law |
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is continued in effect for that purpose. |
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SECTION 3. 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, 2011. |