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AN ACT
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relating to the registration and regulation of brokers by the |
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Public Utility Commission of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter H, Chapter 39, Utilities Code, is |
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amended by adding Section 39.3555 to read as follows: |
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Sec. 39.3555. REGISTRATION OF BROKERS. (a) In this |
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section, "brokerage services" means providing advice or |
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procurement services to, or acting on behalf of, a retail electric |
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customer regarding the selection of a retail electric provider, or |
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a product or service offered by a retail electric provider. |
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(b) A person may not provide brokerage services, including |
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brokerage services offered online, in this state for compensation |
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or other consideration unless the person is registered with the |
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commission as a broker. |
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(c) A retail electric provider may not register as a broker. |
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A broker may not sell or take title to electric energy. |
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(d) A retail electric provider may not knowingly provide |
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bids or offers to a person who: |
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(1) provides brokerage services in this state for |
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compensation or other consideration; and |
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(2) has not registered as a broker with the |
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commission. |
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(e) A person who registers under this section shall comply |
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with customer protection provisions, disclosure requirements, and |
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marketing guidelines established by the commission and by this |
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chapter and Chapter 17. |
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(f) The commission shall adopt rules as necessary to |
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implement this section. |
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(g) The commission shall process a person's application for |
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registration as a broker not later than the 60th day after the date |
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the person files the application. |
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SECTION 2. This Act takes effect September 1, 2019. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1497 passed the Senate on |
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April 11, 2019, by the following vote: Yeas 31, Nays 0; and that |
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the Senate concurred in House amendment on May 21, 2019, by the |
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following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1497 passed the House, with |
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amendment, on May 16, 2019, by the following vote: Yeas 95, |
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Nays 38, three present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |