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A BILL TO BE ENTITLED
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AN ACT
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relating to real property executed in trust for the issuance of a |
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license as a bail bond surety. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1704.155, Occupations Code, is amended |
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to read as follows: |
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Sec. 1704.155. REAL PROPERTY LIST. A list of nonexempt real |
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property required under Section 1704.154(b)(3) must, for each |
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parcel listed, include: |
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(1) a legal description of the property that would be |
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sufficient to convey the property by general warranty deed; |
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(2) a current statement from each taxing unit |
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authorized to impose taxes on the property showing that there is no |
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outstanding tax lien against the property; |
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(3) proof of the issuance of a title insurance policy; |
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(4) at the option of the applicant, either the |
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property's: |
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(A) net value according to a current appraisal |
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made by a real estate appraiser who is a member in good standing of a |
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nationally recognized professional appraiser society or trade |
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organization that has an established code of ethics, educational |
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program, and professional certification program; or |
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(B) value according to a statement from the |
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county from the county's most recent certified tax appraisal roll; |
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(5) [(4)] a statement by the applicant that, while the |
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property remains in trust, the applicant: |
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(A) agrees to pay the taxes on the property; |
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(B) will not further encumber the property unless |
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the applicant notifies the board of the applicant's intent to |
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encumber the property and the board permits the encumbrance; and |
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(C) agrees to maintain insurance on any |
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improvements on the property against damage or destruction in the |
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full amount of the value claimed for the improvements; |
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(6) [(5)] a statement of whether the applicant is |
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married; and |
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(7) [(6)] if the applicant is married, a sworn |
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statement from the applicant's spouse agreeing to transfer to the |
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board, as a part of the trust, any right, title, or interest that |
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the spouse may have in the property. |
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SECTION 2. The change in law made by this Act to Section |
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1704.155, Occupations Code, applies only to an application for a |
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bail bond surety license that is submitted on or after the effective |
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date of this Act. An application submitted before the effective |
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date of this Act is governed by the law in effect on the date the |
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application was submitted, and the former law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2019. |