TITLE: Relating to the issuance and enforcement of a subpoena during the course of an investigation of a residential mortgage loan servicer.

SUMMARY: Relating to the issuance and enforcement of a subpoena during the course of an investigation of a residential mortgage loan servicer.

FULL TEXT:
AN ACT relating to the issuance and enforcement of a subpoena during the course of an investigation of a residential mortgage loan servicer. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter C, Chapter 158, Finance Code, is amended by adding Section 158.1045 to read as follows: Sec. 158.1045. ISSUANCE AND ENFORCEMENT OF SUBPOENA. (a) During an investigation, the commissioner may issue a subpoena that is addressed to a peace officer of this state or other person authorized by law to serve citation or perfect service. The subpoena may require a person to give a deposition, produce documents, or both. (b) If a person disobeys a subpoena or if a person appearing in a deposition in connection with the investigation refuses to testify, the commissioner may petition a district court in Travis County to issue an order requiring the person to obey the subpoena, testify, or produce documents relating to the matter. The court shall promptly set an application to enforce a subpoena issued under Subsection (a) for hearing and shall cause notice of the application and the hearing to be served on the person to whom the subpoena is directed. SECTION 2. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.