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  | By:  Kolkhorst, et al. | S.B.  No.  147 |
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  | relating to the purchase of or acquisition of title to real property | |
  | by certain aliens or foreign entities. | |
  |              BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
  |              SECTION  1.    Section 64.001(a), Civil Practice and Remedies | |
  | Code, is amended to read as follows: | |
  |              (a)    A court of competent jurisdiction may appoint a | |
  | receiver: | |
  |                          (1)    in an action by a vendor to vacate a fraudulent | |
  | purchase of property; | |
  |                          (2)    in an action by a creditor to subject any property | |
  | or fund to the creditor's [ |
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  |                          (3)    in an action between partners or others jointly | |
  | owning or interested in any property or fund; | |
  |                          (4)    in an action by a mortgagee for the foreclosure of | |
  | the mortgage and sale of the mortgaged property; | |
  |                          (5)    for a corporation that is insolvent, is in | |
  | imminent danger of insolvency, has been dissolved, or has forfeited | |
  | its corporate rights; [ |
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  |                          (6)    in an action by the attorney general under | |
  | Subchapter H, Chapter 5, Property Code; or     | |
  |                          (7)    in any other case in which a receiver may be | |
  | appointed under the rules of equity. | |
  |              SECTION  2.    Section 5.005, Property Code, is amended to read | |
  | as follows: | |
  |              Sec.  5.005.    ALIENS.  Except as provided by Subchapter H, an | |
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  | United States citizen. | |
  |              SECTION  3.    Chapter 5, Property Code, is amended by adding | |
  | Subchapter H to read as follows: | |
  | SUBCHAPTER H. PURCHASE OF OR ACQUISITION OF TITLE TO REAL PROPERTY | |
  | BY CERTAIN FOREIGN INDIVIDUALS OR ENTITIES | |
  |              Sec.  5.251.    DEFINITIONS. In this subchapter: | |
  |                          (1)    "Agricultural land" means land that is located in | |
  | this state and that is suitable for: | |
  |                                      (A)    use in production of plants and fruits grown | |
  | for human or animal consumption, or plants grown for the production | |
  | of fibers, floriculture, viticulture, horticulture, or planting | |
  | seed; or | |
  |                                      (B)    domestic or native farm or ranch animals kept | |
  | for use or profit. | |
  |                          (2)    "Control" means ownership of at least 50 percent | |
  | of the voting ownership interest of an organization necessary to | |
  | elect a governing person or governing authority of an organization. | |
  |                          (3)    "Designated country" means a country identified by | |
  | the United States Director of National Intelligence as a country | |
  | that poses a risk to the national security of the United States in | |
  | each of the three most recent Annual Threat Assessments of the U.S. | |
  | Intelligence Community issued pursuant to Section 108B, National | |
  | Security Act of 1947 (50 U.S.C. Section 3043b). | |
  |                          (4)    "Governing authority," "governing person," and | |
  | "organization" have the meanings assigned by Section 1.002, | |
  | Business Organizations Code. | |
  |                          (5)    "Real property" means: | |
  |                                      (A)    agricultural land; | |
  |                                      (B)    an improvement located on agricultural land; | |
  |                                      (C)    a mine or quarry; | |
  |                                      (D)    a mineral in place; or | |
  |                                      (E)    standing timber. | |
  |              Sec.  5.252.    EXCEPTIONS: UNITED STATES CITIZENS AND LAWFUL | |
  | PERMANENT RESIDENTS; RESIDENCE HOMESTEAD PROPERTY. (a) This | |
  | subchapter does not apply to: | |
  |                          (1)    an individual who is a citizen or lawful permanent | |
  | resident of the United States, including an individual who is a | |
  | citizen of a fStatutes affected: Introduced: Property Code 5.005 (Property Code 5) Senate Committee Report: Civil Practice and Remedies - Code 64.001, Property Code 5.005 (Civil Practice and Remedies - Code 64, Property Code 5) Engrossed: Civil Practice and Remedies Code 64.001, Property Code 5.005 (Civil Practice and Remedies - Code 64, Civil Practice and Remedies Code 64, Property Code 5) |