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A BILL TO BE ENTITLED
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AN ACT
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relating to the provision by a notary public of certain services |
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related to the closing of transactions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 406, Government Code, is |
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amended by adding Section 406.026 to read as follows: |
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Sec. 406.026. SIGNING SERVICES. (a) In this section, the |
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term "signing services" means services enabling the process of |
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signing and closing contracts, sales, loans, Internet |
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transactions, and other transactions and making transaction |
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disbursements, whether in electronic or paper form. |
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(b) A person may provide signing services through an office |
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or agent and may employ a notary public for that purpose. |
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(c) A notary public providing a signing service listed under |
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Section 406.024 may charge the fee provided by that section. A |
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notary public providing a signing service other than a service |
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listed under Section 406.024 may charge a fee that is agreed on by |
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the parties to the transaction. |
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(d) A person who provides the signing services of a notary |
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public under this section may serve as a party's payment agent or |
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receiving agent for funds that are related to the closing of the |
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transaction and are binding on the party as principal without being |
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considered a money services business for the purpose of Chapter |
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151, Finance Code. |
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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, 2015. |