Bill Text: TX HB2590 | 2015-2016 | 84th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to providing a remedy for fraud committed in certain real estate transactions.
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: (Passed) 2015-06-19 - Effective on 9/1/15 [HB2590 Detail]
Download: Texas-2015-HB2590-Introduced.html
Bill Title: Relating to providing a remedy for fraud committed in certain real estate transactions.
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: (Passed) 2015-06-19 - Effective on 9/1/15 [HB2590 Detail]
Download: Texas-2015-HB2590-Introduced.html
84R8825 GRM-D | ||
By: Johnson | H.B. No. 2590 |
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relating to providing a remedy for fraud committed in certain real | ||
estate and stock transactions. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 27, Business & Commerce Code, is amended | ||
by adding Section 27.015 to read as follows: | ||
Sec. 27.015. DECEPTIVE TRADE PRACTICE; PUBLIC REMEDY. (a) | ||
In this section, "consumer protection division" has the meaning | ||
assigned by Section 17.45. | ||
(b) A violation of Section 27.01 is a false, misleading, or | ||
deceptive act or practice as defined by Section 17.46(b), and any | ||
public remedy under Subchapter E, Chapter 17, is available for a | ||
violation of that section. | ||
(c) It is the duty of city attorneys to lend the consumer | ||
protection division any assistance requested in the commencement | ||
and prosecution of actions under this section. | ||
(d) To the same extent and in the same manner a district or | ||
county attorney may institute or prosecute an action under this | ||
section, a city attorney may institute or prosecute an action under | ||
this section. | ||
(e) If a district, county, or city attorney brings an action | ||
under this section, 75 percent of any penalty recovered shall be | ||
deposited in the general fund of the county or municipality in which | ||
the violation occurred. | ||
SECTION 2. The changes in law made by this Act apply only to | ||
a violation of Section 27.01, Business & Commerce Code, that occurs | ||
on or after the effective date of this Act. A violation of Section | ||
27.01, Business & Commerce Code, that occurs before the effective | ||
date of this Act is governed by the law in effect on the date the | ||
violation occurred, and the former law is continued in effect for | ||
that purpose. For purposes of this section, a violation occurs | ||
before the effective date of this Act if any element of the | ||
violation occurs before that date. | ||
SECTION 3. This Act takes effect September 1, 2015. |