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A BILL TO BE ENTITLED
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AN ACT
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relating to persons engaged in business as a vehicle lessor or |
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vehicle lease facilitator. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2301.002(36), Occupations Code, is |
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amended to read as follows: |
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(36) "Vehicle lessor" means a person who leases or |
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offers to lease a motor vehicle[, under a lease, transfers] to |
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another person under a lease agreement [the right to possession and
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use of a motor vehicle titled in the name of the lessor]. |
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SECTION 2. Subchapter L, Chapter 2301, Occupations Code, is |
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amended by adding Section 2301.5555 to read as follows: |
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Sec. 2301.5555. AUTHORITY TO SIGN VEHICLE LEASE AS LESSOR. |
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Notwithstanding Section 2301.251, a licensed vehicle lease |
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facilitator may sign a vehicle lease agreement as a vehicle lessor |
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before the vehicle lease is assigned, transferred, or conveyed to |
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an ultimate lessor. |
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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, 2017. |