reglab/statecodes huggingface dataset:
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.21. Definitions

Sec. 20.21.  DEFINITIONS.  In this subchapter:
(1)  "Protected consumer" means an individual who resides in this state and is younger than 16 years of age at the time a request for the placement of a security freeze is made.
(2)  "Record," with respect to a protected consumer, means a compilation of information identifying a protected consumer created by a consumer reporting agency solely to comply with this subchapter.
(3)  "Representative" means a person who provides to a consumer reporting agency sufficient proof of authority to act on behalf of a protected consumer.
(4)  "Security freeze," with respect to a protected consumer, means:
(A)  if a consumer reporting agency does not have a consumer file pertaining to the protected consumer, a restriction that:
(i)  is placed on the protected consumer's record in accordance with this subchapter; and
(ii)  prohibits a consumer reporting agency from releasing a consumer report relating to the extension of credit involving the consumer's record without the express authorization of the consumer's representative or the consumer, as applicable; or
(B)  if a consumer reporting agency has a consumer file pertaining to the protected consumer, a restriction that:
(i)  is placed on the protected consumer's consumer report in accordance with this subchapter; and
(ii)  except as otherwise provided by this subchapter, prohibits a consumer reporting agency from releasing the protected consumer's consumer report relating to the extension of credit involving that consumer file, or any information derived from the protected consumer's consumer report.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.22. Applicability; Conflict of Law

Sec. 20.22.  APPLICABILITY; CONFLICT OF LAW.  (a)  This subchapter does not apply to the use of a protected consumer's consumer report or record by:
(1)  a person administering a credit file monitoring subscription service to which:
(A)  the protected consumer has subscribed; or
(B)  the representative of the protected consumer has subscribed on behalf of the protected consumer;
(2)  a person providing the protected consumer or the protected consumer's representative with a copy of the protected consumer's consumer report on request of the protected consumer or the protected consumer's representative;
(3)  a consumer reporting agency with respect to a database or file that consists entirely of information concerning, and is used solely for, one or more of the following:
(A)  criminal history record information;
(B)  personal loss history information;
(C)  fraud prevention or detection;
(D)  tenant screening; or
(E)  employment screening; or
(4)  an entity described by Section 20.038(11), (12), or (13).
(b)  To the extent of a conflict between a provision of this subchapter relating to a protected consumer and another provision of this chapter, this subchapter controls.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.23. Proof of Authority and Identification

Sec. 20.23.  PROOF OF AUTHORITY AND IDENTIFICATION.  (a)  Documentation that shows a person has authority to act on behalf of a protected consumer is considered sufficient proof of authority for purposes of this subchapter, including:
(1)  an order issued by a court; or
(2)  a written, notarized statement signed by a representative that expressly describes the authority of the representative to act on behalf of a protected consumer.
(b)  Information or documentation that identifies a protected consumer or a representative of a protected consumer is considered sufficient proof of identity for purposes of this subchapter, including:
(1)  a social security number or a copy of the social security card issued by the United States Social Security Administration;
(2)  a certified or official copy of a birth certificate issued by the entity authorized to issue the birth certificate;
(3)  a copy of a driver's license or identification card issued by the Department of Public Safety; or
(4)  any other government-issued identification.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.24. Use of Record to Consider Creditworthiness or for Other Purposes Prohibited

Sec. 20.24.  USE OF RECORD TO CONSIDER CREDITWORTHINESS OR FOR OTHER PURPOSES PROHIBITED.  A protected consumer's record may not be created or used to consider the protected consumer's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living for any purpose described by Section 20.01(4).
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.25. Request to Place a Security Freeze; Creation of Record

Sec. 20.25.  REQUEST TO PLACE A SECURITY FREEZE; CREATION OF RECORD.  (a)  Except as provided by Subsection (b), a consumer reporting agency shall place a security freeze on a protected consumer's consumer file if:
(1)  the consumer reporting agency receives a request from the protected consumer's representative for the placement of the security freeze as provided by this section; and
(2)  the protected consumer's representative:
(A)  submits the request to the consumer reporting agency at the address or other point of contact of and in the manner specified by the consumer reporting agency;
(B)  provides to the consumer reporting agency sufficient proof of identification of the protected consumer and the representative;
(C)  provides to the consumer reporting agency sufficient proof of authority to act on behalf of the protected consumer; and
(D)  pays to the consumer reporting agency a fee as provided by Section 20.29.
(b)  If a consumer reporting agency does not have a consumer file pertaining to a protected consumer when the consumer reporting agency receives a request under Subsection (a) and if the requirements of Subsection (a) are met, the consumer reporting agency shall create a record for the protected consumer and place a security freeze on the protected consumer's record.
(c)  The consumer reporting agency shall place the security freeze on the protected consumer's consumer file or record, as applicable, not later than the 30th day after receiving a request that meets the requirements of Subsection (a).
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.26. Release of Consumer Report Prohibited

Sec. 20.26.  RELEASE OF CONSUMER REPORT PROHIBITED.  Unless a security freeze on a protected consumer's consumer file or record is removed under Section 20.28 or 20.30, a consumer reporting agency may not release any consumer report relating to the protected consumer, any information derived from the protected consumer's consumer report, or any record created for the protected consumer.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.27. Period of Security Freeze

Sec. 20.27.  PERIOD OF SECURITY FREEZE.  A security freeze on a protected consumer's consumer file or record remains in effect until:
(1)  the protected consumer or the protected consumer's representative requests that the consumer reporting agency remove the security freeze in accordance with Section 20.28; or
(2)  a consumer reporting agency removes the security freeze under Section 20.30.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.28. Removal of Security Freeze

Sec. 20.28.  REMOVAL OF SECURITY FREEZE.  (a)  A protected consumer or a protected consumer's representative may remove a security freeze on a protected consumer's consumer file or record if the protected consumer or representative:
(1)  submits a request for the removal of the security freeze to the consumer reporting agency at the address or other point of contact of and in the manner specified by the consumer reporting agency;
(2)  provides to the consumer reporting agency:
(A)  in the case of a request by the protected consumer:
(i)  sufficient proof of identification of the protected consumer; and
(ii)  proof that the sufficient proof of authority for the protected consumer's representative to act on behalf of the protected consumer is no longer valid; or
(B)  in the case of a request by the representative of a protected consumer:
(i)  sufficient proof of identification of the protected consumer and the representative; and
(ii)  sufficient proof of authority to act on behalf of the protected consumer; and
(3)  pays to the consumer reporting agency a fee as provided by Section 20.29.
(b)  The consumer reporting agency shall remove the security freeze on the protected consumer's consumer file or record not later than the 30th day after the date the agency receives a request that meets the requirements of Subsection (a).
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.29. Fees

Sec. 20.29.  FEES.  (a)  A consumer reporting agency may not charge a fee for any service performed under this subchapter other than a fee authorized by this section.
(b)  Except as provided by Subsection (c), a consumer reporting agency may charge a reasonable fee in an amount not to exceed $10 for each placement or removal of a security freeze on the protected consumer's consumer file or record.
(c)  A consumer reporting agency may not charge a fee for the placement of a security freeze under this subchapter if:
(1)  the protected consumer's representative submits to the consumer reporting agency a copy of a valid police report, investigative report, or complaint involving the commission of an offense under Section 32.51, Penal Code; or
(2)  at the time the protected consumer's representative makes the request for a security freeze:
(A)  the protected consumer is under the age of 16; and
(B)  the consumer reporting agency has created a consumer report pertaining to the protected consumer.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.30. Effect of Material Misrepresentation of Fact

Sec. 20.30.  EFFECT OF MATERIAL MISREPRESENTATION OF FACT.  A consumer reporting agency may remove a security freeze on a protected consumer's consumer file or record, or delete a record of a protected consumer, if the security freeze was placed or the record was created based on a material misrepresentation of fact by the protected consumer or the protected consumer's representative.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 20 - Regulation of Consumer Credit Reporting Agencies › Subchapter E. Security Freeze for Child › Section 20.31. Remedy for Violation

Sec. 20.31.  REMEDY FOR VIOLATION.  Notwithstanding Subchapter D or any other law, the exclusive remedy for a violation of this subchapter is a suit filed by the attorney general under Section 20.11.
Added by Acts 2013, 83rd Leg., R.S., Ch. 64 (S.B. 60), Sec. 1, eff. January 1, 2014.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter A. General Provisions › Section 21.001. Definitions

Sec. 21.001.  DEFINITIONS.  (a)  In this chapter:
(1)  "Foreclosure consultant" means a person who makes a solicitation, representation, or offer to a homeowner to perform for compensation, or who for compensation performs, a service that the person represents will do any of the following:
(A)  prevent or postpone a foreclosure sale;
(B)  obtain a forbearance from:
(i)  a mortgagee;
(ii)  a beneficiary of a deed of trust; or
(iii)  another person who holds a lien secured by the residence in foreclosure;
(C)  assist the homeowner:
(i)  to cure the default giving rise to the foreclosure action; or
(ii)  to exercise the right of reinstatement of the homeowner's obligation secured by the residence in foreclosure;
(D)  obtain an extension of the period within which the homeowner may reinstate the homeowner's obligation secured by the residence in foreclosure;
(E)  obtain a waiver of an acceleration clause contained in a promissory note or contract secured by a deed of trust or mortgage on a residence in foreclosure or contained in the deed of trust or mortgage;
(F)  assist the homeowner to obtain a loan or advance of funds to prevent foreclosure;
(G)  avoid or ameliorate the impairment of the homeowner's credit resulting from the recording of a notice of default or the conduct of a foreclosure sale;
(H)  save the homeowner's residence from foreclosure; or
(I)  assist the homeowner in obtaining excess proceeds from a foreclosure sale of the homeowner's residence.
(2)  "Homeowner" means a person that holds record title to a residence in foreclosure at the time the foreclosure action has been commenced.
(3)  "Mortgage servicer" has the meaning assigned by Section 51.0001, Property Code.
(4)  "Residence in foreclosure" means residential real property consisting of not more than four single-family dwelling units, at least one of which is occupied as the property owner's principal place of residence, and against which a foreclosure action has been commenced.
(b)  For purposes of Subsections (a)(2) and (4), a foreclosure action has been commenced if:
(1)  notice of sale has been filed under Section 51.002(b), Property Code; or
(2)  a judicial foreclosure action has been commenced.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter A. General Provisions › Section 21.003. Conflict With Other Law

Sec. 21.003.  CONFLICT WITH OTHER LAW.  To the extent of a conflict between this chapter and Chapter 393, Finance Code, this chapter controls.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter B. Contract for Services › Section 21.051. Form and Terms of Contract

Sec. 21.051.  FORM AND TERMS OF CONTRACT.  Each contract for the purchase of the services of a foreclosure consultant by a homeowner of a residence in foreclosure must be in writing, dated, and signed by each homeowner and the foreclosure consultant.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter B. Contract for Services › Section 21.052. Required Disclosure

Sec. 21.052.  REQUIRED DISCLOSURE.  Before entering into a contract with a homeowner of a residence in foreclosure for the purchase of the services of a foreclosure consultant, the foreclosure consultant shall provide the homeowner written notice stating the following, in at least 14-point boldfaced type:
NOTICE REQUIRED BY TEXAS LAW
_______ (Name) or an associate of _________ (Name) cannot ask you to sign or have you sign any document that transfers any interest in your home or property to __________ (Name) or ___________ (Name's) associate.
_______ (Name) or ________ (Name's) associate cannot guarantee you that they will be able to refinance your home or arrange for you to keep your home.
You may, at any time, cancel or rescind this contract, without penalty of any kind.
If you want to cancel this contract, mail or deliver a signed and dated copy of this notice of cancellation or rescission, or any other written notice, indicating your intent to cancel or rescind to _________________ (Name and address of foreclosure consultant) at ________________________ (Address of foreclosure consultant, including facsimile and electronic mail address).
As part of any cancellation or rescission, you (the homeowner) must repay any money spent on your behalf by _____________________ (Name of foreclosure consultant) prior to receipt of this notice and as a result of this agreement, within 60 days, along with interest calculated at the rate of eight percent per year.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter C. Limitations, Prohibitions, and Duties Regarding Services › Section 21.101. Restrictions on Charge or Receipt of Consideration

Sec. 21.101.  RESTRICTIONS ON CHARGE OR RECEIPT OF CONSIDERATION.  A foreclosure consultant may not:
(1)  charge or receive compensation until the foreclosure consultant has fully performed each service the foreclosure consultant has contracted to perform or has represented the foreclosure consultant can or will perform unless the foreclosure consultant has obtained a surety bond or established and maintained a surety account for each location at which the foreclosure consultant conducts business in the manner that Subchapter E, Chapter 393, Finance Code, provides for credit services organizations; or
(2)  receive any consideration from a third party in connection with foreclosure consulting services provided to the homeowner of a residence in foreclosure unless the consideration is fully disclosed in writing to the homeowner.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter C. Limitations, Prohibitions, and Duties Regarding Services › Section 21.102. Prohibited Conduct

Sec. 21.102.  PROHIBITED CONDUCT.  A foreclosure consultant may not:
(1)  take any power of attorney from a homeowner for any purpose other than to inspect documents;
(2)  for purposes of securing payment of compensation, acquire an interest, directly or indirectly, in the real or personal property of the homeowner of a residence in foreclosure with whom the foreclosure consultant has contracted to perform services; or
(3)  take an assignment of wages to secure payment of compensation.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter C. Limitations, Prohibitions, and Duties Regarding Services › Section 21.103. Retention of Records

Sec. 21.103.  RETENTION OF RECORDS.  (a)  A foreclosure consultant shall keep each record and document, including the foreclosure consultant contract, related to foreclosure consulting services performed on behalf of a homeowner.
(b)  A foreclosure consultant shall retain the records described by Subsection (a) until at least the third anniversary of the day the foreclosure consultant contract entered into by the consultant and the homeowner was terminated or concluded.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21 - Regulation of Certain Residential Foreclosure Consulting Services › Subchapter D. Enforcement › Section 21.151. Criminal Penalty

Sec. 21.151.  CRIMINAL PENALTY.  (a)  A person commits an offense if the person violates this chapter.
(b)  An offense under this chapter is a Class C misdemeanor.
Added by Acts 2011, 82nd Leg., R.S., Ch. 902 (S.B. 767), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21A - Execution of Deeds in Certain Transactions Involving Residential Real Estate › Section 21A.001. Definition

Sec. 21A.001.  DEFINITION.  In this chapter, "residential real estate" means real property on which a dwelling designed for occupancy for one to four families is constructed or intended to be constructed.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1242 (S.B. 1320), Sec. 1, eff. September 1, 2011.
Redesignated from Business and Commerce Code, Chapter 21 by Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 22.001(1), eff. September 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21A - Execution of Deeds in Certain Transactions Involving Residential Real Estate › Section 21A.002. Prohibition of Execution of Deeds Conveying Residential Real Estate in Certain Transactions

Sec. 21A.002.  PROHIBITION OF EXECUTION OF DEEDS CONVEYING RESIDENTIAL REAL ESTATE IN CERTAIN TRANSACTIONS.  (a)  A seller of residential real estate or a person who makes an extension of credit and takes a security interest or mortgage against residential real estate may not, before or at the time of the conveyance of the residential real estate to the purchaser or the extension of credit to the borrower, request or require the purchaser or borrower to execute and deliver to the seller or person making the extension of credit a deed conveying the residential real estate to the seller or person making the extension of credit.
(b)  A deed executed in violation of this section is voidable unless a subsequent purchaser of the residential real estate, for valuable consideration, obtains an interest in the property after the deed was recorded without notice of the violation, including notice provided by actual possession of the property by the grantor of the deed.  The residential real estate continues to be subject to the security interest of a creditor who, without notice of the violation, granted an extension of credit to a borrower based on the deed executed in violation of this section.
(c)  A purchaser or borrower must bring an action to void a deed executed in violation of this section not later than the fourth anniversary of the date the deed was recorded.
(d)  A purchaser or borrower who is a prevailing party in an action to void a deed under this section may recover reasonable and necessary attorney's fees.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1242 (S.B. 1320), Sec. 1, eff. September 1, 2011.
Redesignated from Business and Commerce Code, Chapter 21 by Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 22.001(1), eff. September 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 21A - Execution of Deeds in Certain Transactions Involving Residential Real Estate › Section 21A.003. Action by Attorney General

Sec. 21A.003.  ACTION BY ATTORNEY GENERAL.  (a)  The attorney general may bring an action on behalf of the state:
(1)  for injunctive relief to require compliance with this chapter;
(2)  to recover a civil penalty of $500 for each violation of this chapter; or
(3)  for both injunctive relief and to recover the civil penalty.
(b)  The attorney general is entitled to recover reasonable expenses incurred in obtaining injunctive relief or a civil penalty, or both, under this section, including court costs and reasonable attorney's fees.
(c)  The court may make such additional orders or judgments as are necessary to return to the purchaser a deed conveying residential real estate that the court finds was acquired by means of any violation of this chapter.
(d)  In bringing or participating in an action under this chapter, the attorney general acts in the name of the state and does not establish an attorney-client relationship with another person, including a person to whom the attorney general requests that the court award relief.
(e)  An action by the attorney general must be brought not later than the fourth anniversary of the date the deed was recorded.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1242 (S.B. 1320), Sec. 1, eff. September 1, 2011.
Redesignated from Business and Commerce Code, Chapter 21 by Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 22.001(1), eff. September 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.001. Definitions

Sec. 22.001.  DEFINITIONS.  In this chapter:
(1)  "Auction company" has the meaning assigned by Section 1802.001, Occupations Code.
(2)  "Residential real property" means:
(A)  a single-family house;
(B)  a duplex, triplex, or quadraplex; or
(C)  a unit in a multiunit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system.
(3)  "Security instrument," "substitute trustee," and "trustee" have the meanings assigned by Section 51.0001, Property Code.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.002. Applicability

Sec. 22.002.  APPLICABILITY.  This chapter applies only to a public sale of residential real property conducted under a power of sale in a security instrument.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.003. Contracts Concerning Sale

Sec. 22.003.  CONTRACTS CONCERNING SALE.  A trustee or substitute trustee conducting a sale to which this chapter applies may contract with:
(1)  an attorney to advise the trustee or substitute trustee or to administer or perform any of the trustee's or substitute trustee's functions or responsibilities under a security instrument or this chapter; or
(2)  an auction company to arrange, manage, sponsor, or advertise a public sale.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.004. Information From Winning Bidder

Sec. 22.004.  INFORMATION FROM WINNING BIDDER.  (a)  A winning bidder at a sale, other than the foreclosing mortgagee or mortgage servicer, shall provide the following information to the trustee or substitute trustee at the time the trustee or substitute trustee completes the sale:
(1)  the name, address, telephone number, and e-mail address of the bidder and of each individual tendering or who will tender the sale price for the winning bid;
(2)  if the bidder is acting on behalf of another individual or organization, the name, address, telephone number, and e-mail address of the individual or organization and the name of a contact person for the organization;
(3)  the name and address of any person to be identified as the grantee in a trustee's or substitute trustee's deed;
(4)  the purchaser's tax identification number;
(5)  a government-issued photo identification to confirm the identity of each individual tendering funds for the winning bid; and
(6)  any other information reasonably needed to complete the trustee's or substitute trustee's duties and functions concerning the sale.
(b)  If a winning bidder required to provide information under Subsection (a) fails or refuses to provide the information, the trustee or substitute trustee may decline to complete the transaction or deliver a deed.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.005. Receipt and Deed

Sec. 22.005.  RECEIPT AND DEED.  The trustee or substitute trustee shall:
(1)  provide the winning bidder with a receipt for the sale proceeds tendered; and
(2)  except when prohibited by law, within a reasonable time:
(A)  deliver the deed to the winning bidder; or
(B)  file the deed for recording.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 2 - Competition and Trade Practices › Chapter 22 - Public Sale of Residential Real Property Under Power of Sale › Section 22.006. Sale Proceeds

Sec. 22.006.  SALE PROCEEDS.  (a)  The trustee or substitute trustee shall ensure that funds received at the sale are maintained in a separate account until distributed. The trustee or substitute trustee shall cause to be maintained a written record of deposits to and disbursements from the account.
(b)  The trustee or substitute trustee shall make reasonable attempts to identify and locate the persons entitled to all or any part of the sale proceeds.
(c)  In connection with the sale and related post-sale actions to identify persons with legal claims to sale proceeds, determine the priority of any claims, and distribute proceeds to pay claims, a trustee or substitute trustee may receive:
(1)  reasonable actual costs incurred, including costs for evidence of title;
(2)  a reasonable trustee's or substitute trustee's fee; and
(3)  reasonable trustee's or substitute trustee's attorney's fees.
(d)  A fee described by Subsection (c):
(1)  is considered earned at the time of the sale;
(2)  may be paid from sale proceeds in excess of the payoff of the lien being foreclosed; and
(3)  is conclusively presumed to be reasonable if the fee:
(A)  is not more than the lesser of 2.5 percent of the sale proceeds or $5,000, for a trustee's or substitute trustee's fee; or
(B)  is not more than 1.5 percent of the sale proceeds, for trustee's or substitute trustee's attorney's fees incurred to identify persons with legal claims to sale proceeds and determine the priority of the claims.
(e)  A trustee or substitute trustee who prevails in a suit based on a claim that relates to the sale and that is found by a court to be groundless in fact or in law is entitled to recover reasonable attorney's fees necessary to defend against the claim, which may be paid from the excess sale proceeds, if any.
(f)  Nothing in this section precludes the filing of an interpleader action or the depositing of funds in a court registry.
Added by Acts 2017, 85th Leg., R.S., Ch. 1012 (H.B. 1470), Sec. 1, eff. September 1, 2017.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter A. General Provisions › Section 23.01. Definitions

Sec. 23.01.  DEFINITIONS.  In this chapter, unless the context requires a different definition,
(1)  "assigned estate" means all the real and personal estate of an assigning debtor passing to the consenting creditors under an assignment by virtue of Section 23.02 or 23.09(b) of this code;
(2)  "assignee" means an assignee for the benefit of creditors;
(3)  "assigning debtor" means a person executing an assignment;
(4)  "assignment" means a general assignment for the benefit of creditors made under this chapter;
(5)  "consenting creditor" means a creditor who has consented to an assignment in one of the ways provided by Section 23.30 of this code;  and
(6)  "real and personal estate" does not include property exempt by law from execution.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter A. General Provisions › Section 23.02. Nature and Effect of Assignment

Sec. 23.02.  NATURE AND EFFECT OF ASSIGNMENT.  (a)  A debtor may assign his real and personal estate under this chapter to an assignee for the benefit of the debtor's creditors.
(b)  An assigning debtor shall provide in the assignment for distribution of all his real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
(c)  Regardless of an expression to the contrary, an assignment passes all an assigning debtor's real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter B. The Assignment › Section 23.08. Form and Content of Assignment

Sec. 23.08.  FORM AND CONTENT OF ASSIGNMENT.  (a)  For an assignment to be valid,
(1)  the assigning debtor must make the assignment in writing;  and
(2)  it must be proved or acknowledged and recorded in the manner provided by law for the conveyance of real estate.
(b)  The assigning debtor shall attach to his assignment an inventory containing the following information:
(1)  a list naming each creditor of the assigning debtor;
(2)  the resident address, if known, of each creditor;
(3)  the amount owed each creditor and the type of debt;
(4)  the consideration for the debt and the place where the debt arose;
(5)  a description of each existing judgment or security for the payment of the debt;
(6)  a schedule of all the assigning debtor's real and personal estate at the date of the assignment;
(7)  a description of
(A)  each encumbrance on the real and personal estate;  and
(B)  each voucher and security relating to the estate;  and
(8)  the value of the estate.
(c)  The assigning debtor shall sign the inventory required by Subsection (b) of this section and swear that it is just and true.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter B. The Assignment › Section 23.09. Fraud Does Not Defeat Assignment

Sec. 23.09.  FRAUD DOES NOT DEFEAT ASSIGNMENT.  (a)  An assignment is not affected and a consenting creditor is not deprived of his proportionate share of the assigned estate by the fraudulent act or intent of the assigning debtor or assignee.  A consenting creditor is a proper party to a suit filed to enforce a right under an assignment, or to protect an interest in an assigned estate.
(b)  Except as to an innocent purchaser for value, a transfer of property made in contemplation of an assignment with an intent to defeat, delay, defraud, or give preference to a creditor is void and the property passes under the assignment rather than by the transfer.
(c)  An assignee may sue to recover property transferred with an intent described in Subsection (b) of this section, and when the property is recovered, the assignee shall apply it for the benefit of the assigning debtor's creditors along with property belonging to the assigned estate already in the assignee's possession.  If an assignee neglects or refuses to sue to recover property transferred with an intent described in Subsection (b) of this section, a creditor, after securing the assignee against cost or liability, may sue in the assignee's name to recover the property.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter B. The Assignment › Section 23.10. Assignment Discharges Debtor

Sec. 23.10.  ASSIGNMENT DISCHARGES DEBTOR.  If an assigning debtor makes an assignment, he is discharged from liability on the claim of a consenting creditor unless the consenting creditor does not receive at least one-third of the amount allowed on his claim against the assigned estate.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.16. Assignee's Qualifications, Duty to Record Assignment, and Bond

Sec. 23.16.  ASSIGNEE'S QUALIFICATIONS, DUTY TO RECORD ASSIGNMENT, AND BOND.  (a)  An assignee shall be a resident of this state and a resident of the county in which the assigning debtor resides, or in which the assigning debtor's principal business was conducted.
(b)  Immediately after the assignment instrument is executed and delivered to him, the assignee shall record it in the county of his residence and in each county in which there is real property conveyed to the assignee by the assignment.
(c)  Within five days after delivery to him of the assignment instrument, the assignee shall execute a bond
(1)  with a surety who must be approved by the judge of either the county or district court in the county of the assignee's residence;
(2)  conditioned that he will perform faithfully his duties as assignee and distribute proportionately the net proceeds of the assigned estate to the consenting creditors entitled to it under the assignment;
(3)  in an amount fixed by the county or district judge;
(4)  payable to the state;  and
(5)  which inures to the benefit of the assigning debtor and each of the creditors.
(d)  The assignee shall file the bond with the county clerk of the county in which the assigning debtor resides and then the assignee shall take possession of the assigned estate and carry out the assignment.
(e)  An assignment is valid as against an assigning debtor or his creditors even though the assignee fails to execute and file a bond as required by Subsections (c) and (d) of this section.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.17. Notice of Assignee's Appointment

Sec. 23.17.  NOTICE OF ASSIGNEE'S APPOINTMENT.  (a)  Within 30 days after an assignment is executed, the assignee shall publish notice of his appointment as assignee in a newspaper published in the county
(1)  where the assigning debtor resides or where he operated his principal business before the assignment;  or
(2)  nearest the assigning debtor's residence or principal business if a newspaper is not published in the county of the assigning debtor's residence or principal business.
(b)  The assignee shall publish notice of his appointment as assignee once each week for three consecutive weeks.
(c)  The assignee shall notify by mail each of the assigning debtor's listed creditors of his appointment as assignee.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.18. Replacement of Assignee

Sec. 23.18.  REPLACEMENT OF ASSIGNEE.  (a)  A county or district court of the county in which the assignee resides shall remove or replace the assignee on application of the assigning debtor or a creditor, or on its own motion,
(1)  if the court is satisfied that the assignee has not executed and filed the bond required by Sections 23.16(c) and (d) of this code;
(2)  if the assignee refuses or fails to serve for any reason;  or
(3)  for good cause.
(b)  On removal, resignation, or death of the assignee, the court shall appoint in writing a new assignee in term time or vacation.
(c)  As soon as the new assignee executes and files a bond as required by Sections 23.16(c) and (d) of this code, he shall take possession of the assigned estate and carry out the assignment.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.19. Assignee's Duty to Distribute Assigned Estate

Sec. 23.19.  ASSIGNEE'S DUTY TO DISTRIBUTE ASSIGNED ESTATE.  Each time an assignee has enough money to pay 10 percent of the assigning debtor's debts, he shall distribute the money among the creditors entitled to receive it in proportion to their claims allowed under Section 23.31(b) of this code.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.20. Discount of Claim Not Due and Allowance of Secured Claim

Sec. 23.20.  DISCOUNT OF CLAIM NOT DUE AND ALLOWANCE OF SECURED CLAIM.  (a)  The assignee may allow a claim which is not due at its present value by discounting it at the legal rate.
(b)  If a creditor holds collateral to secure his claim worth less than his claim, the assignee may estimate the value of the collateral and allow the creditor as a claim against the assigned estate only the difference between the value of the collateral and the amount of the claim.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.21. Assignee's Entitlement to Compensation

Sec. 23.21.  ASSIGNEE'S ENTITLEMENT TO COMPENSATION.  An assignee is entitled to reasonable compensation for his services and reimbursement for his necessary expenses, including an attorney's fee, all of which shall be fixed by the county or district court who approved his bond.  The compensation, expenses, and attorney's fee fixed by the county or district court shall be paid out of the assigned estate.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.22. Examination of Debtor or Other Person

Sec. 23.22.  EXAMINATION OF DEBTOR OR OTHER PERSON.  (a)  The court in which a proceeding involving an assigned estate has been filed may, after reasonable notice to each person concerned, compel any person to answer questions under oath on
(1)  application of a creditor of the assigning debtor;  or
(2)  its own motion.
(b)  The court may compel attendance and an answer to any question concerning the assigned estate by writ or order as in other cases.  Questions asked and answers given during the examination shall be in writing, the person examined shall swear to and sign his answers before the clerk, and the questions and answers shall be filed with the clerk for use by anyone interested in the proceeding.
(c)  The court shall charge the cost of the examination against the applicant or the assigned estate, as the court deems proper.
(d)  The assigning debtor may not be prosecuted or punished for an answer given by him during the examination.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.23. Assignee's Final Report and Discharge

Sec. 23.23.  ASSIGNEE'S FINAL REPORT AND DISCHARGE.  (a)  An assignee wishing to be discharged from his appointment shall prepare and file for record with the county clerk of the county in which his assignment is recorded a sworn report describing
(1)  all property which came into his possession under the assignment;  and
(2)  how and to whom he distributed the property.
(b)  The assignee shall also deposit in the registry of the court who approved his bond money belonging to the assigned estate still in his possession at the time he files his report under Subsection (a) of this section.  The court shall distribute the money under this chapter to the consenting creditors and assignee and, in the case of surplus, to the nonconsenting creditors and assigning debtor.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter C. Duties and Rights of Assignee › Section 23.24. Time Limit on Bringing Action Against Assignee

Sec. 23.24.  TIME LIMIT ON BRINGING ACTION AGAINST ASSIGNEE.  An action against an assignee based on his conduct in carrying out the assignment, as shown in his report filed under Section 23.23(a) of this code, must be brought within 12 months after the report is filed or the action is barred.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
2023 Texas Statutes › Business and Commerce Code › Title 3 - Insolvency, Fraudulent Transfers, and Fraud › Chapter 23 - Assignments for the Benefit of Creditors › Subchapter D. Duties and Rights of Creditors › Section 23.30. Creditor's Consent to Assignment

Sec. 23.30.  CREDITOR'S CONSENT TO ASSIGNMENT.  (a)  A creditor must inform the assignee in writing of his consent to the assignment within four months after the assignee gives the notice required by Section 23.17 of this code.
(b)  If a creditor is not given actual notice of an assignment, but subsequently learns of the assignment, he may consent to the assignment at any time before the first distribution of the assigned estate is begun.
(c)  Receipt by a creditor of payment for part of his claim from the assignee is conclusive evidence of the creditor's consent to the assignment.
(d)  If a creditor does not consent to an assignment, he is not entitled to receive any of the assigned estate under the assignment.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.