Bill Text: TX SB1712 | 2023-2024 | 88th Legislature | Enrolled

Texas Senate Bill 1712

Bill Title: Relating to the purchase, sale, or lease of real property on behalf of a limited partnership or a limited liability company.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Vetoed) 2023-06-16 - Vetoed by the Governor [SB1712 Detail]

Download: Texas-2023-SB1712-Enrolled.html



	S.B. No. 1712




	AN ACT
	relating to the purchase, sale, or lease of real property on behalf
	of a limited partnership or a limited liability company.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 1101.005, Occupations Code, is amended
	to read as follows:
	Sec. 1101.005. APPLICABILITY OF CHAPTER. This chapter does
	not apply to:
	(1) an attorney licensed in this state;
	(2) an attorney-in-fact authorized under a power of
	attorney to conduct not more than three real estate transactions
	annually;
	(3) a public official while engaged in official
	duties;
	(4) an auctioneer licensed under Chapter 1802 while
	conducting the sale of real estate by auction if the auctioneer does
	not perform another act of a broker;
	(5) a person conducting a real estate transaction
	under a court order or the authority of a will or written trust
	instrument;
	(6) a person employed by an owner in the sale of
	structures and land on which structures are located if the
	structures are erected by the owner in the course of the owner's
	business;
	(7) an on-site manager of an apartment complex;
	(8) an owner or the owner's employee who leases the
	owner's improved or unimproved real estate; [or]
	(9) a transaction involving:
	(A) the sale, lease, or transfer of a mineral or
	mining interest in real property;
	(B) the sale, lease, or transfer of a cemetery
	lot;
	(C) the lease or management of a hotel or motel;
	or
	(D) the sale of real property under a power of
	sale conferred by a deed of trust or other contract lien;
	(10) the purchase, sale, or lease of real property for
	a limited partnership by:
	(A) a general partner of the limited partnership;
	(B) an employee of a general partner of the
	limited partnership who negotiates the transaction in the course of
	employment; or
	(C) an employee of the limited partnership who
	negotiates the transaction in the course of employment; or
	(11) the purchase, sale, or lease of real property for
	a limited liability company by:
	(A) a manager or managing member of the limited
	liability company;
	(B) an employee of a manager or managing member
	of the limited liability company who negotiates the transaction in
	the course of employment; or
	(C) an employee or member of the limited
	liability company who negotiates the transaction in the course of
	employment.
	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. If this
	Act does not receive the vote necessary for immediate effect, this
	Act takes effect September 1, 2023.





	______________________________	______________________________
	President of the Senate	Speaker of the House

	I hereby certify that S.B. No. 1712 passed the Senate on
	May 2, 2023, by the following vote: Yeas 31, Nays 0.


	______________________________
	Secretary of the Senate

	I hereby certify that S.B. No. 1712 passed the House on
	May 24, 2023, by the following vote: Yeas 134, Nays 4, one
	present not voting.


	______________________________
	Chief Clerk of the House



	Approved:

	______________________________
	Date


	______________________________
	Governor