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AN ACT |
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relating to disclosure of certain
information by a property owners' |
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association. |
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BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section
207.003, Property Code, is amended by |
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amending Subsections (c) and (d) and
adding Subsections (f) and (g) |
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to read as follows: |
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(c) A
property owners' association may charge a reasonable |
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fee to assemble, copy, and deliver the
information required by this |
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section and may charge a reasonable fee
to prepare and deliver an |
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update of a resale certificate under
Subsection (f). |
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(d) The
property owners' association shall deliver the |
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information required by Subsection (a)
or (f) to the person |
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specified in the written request. A
written request that does not |
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specify the name and location to which
the information is to be sent |
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is not effective. The property owners'
association may deliver the |
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information required by Subsection (a)
and any update to the resale |
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certificate required by Subsection
(f) by mail, hand delivery, or |
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alternative delivery means specified in
the written request. |
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(f) Not
later than the seventh day after the date a written |
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request for an update to a resale
certificate delivered under |
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Subsection (a) is received from an
owner, owner's agent, or title |
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insurance company or its agent
acting on behalf of the owner, the |
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property owners' association shall
deliver to the owner, owner's |
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agent, or title insurance company or
its agent an updated resale |
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certificate that contains the
following information: |
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(1) if
a right of first refusal or other restraint on |
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sale is contained in the
restrictions, a statement of whether the |
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property owners' association waives
the restraint on sale; |
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(2) the
status of any unpaid special assessments, |
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dues, or other payments attributable
to the owner's property; and |
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(3) any
changes to the information provided in the |
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resale certificate issued under
Subsection (a). |
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(g) Requests
for an updated resale certificate pursuant to |
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Subsection (f) must be made within
180 days of the date a resale |
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certificate is issued under
Subsection (a). The update request may |
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be made only by the party requesting
the original resale |
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certificate. |
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SECTION 2. The
change in law made by this Act applies only |
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to a request for an updated resale
certificate received by a |
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property owners' association on or
after the effective date of this |
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Act. A request received before the
effective date of this Act is |
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governed by the law in effect
immediately before the effective date |
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of this Act, and that law is continued
in effect for that purpose. |
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SECTION 3. This
Act takes effect September 1, 2009. |
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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. 1918 passed the Senate on |
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April 30, 2009, by the
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. 1918 passed the House on |
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May 13, 2009, by the
following vote: Yeas 142, Nays 0, one |
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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 |