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2015 Texas Legislative Update on Entity Law
This article summarizes several pieces of legislation passed by the Texas Legislature in its 2015 Regular Session that amend primarily the Texas Business Organizations Code (the “Code”). Senate Bill No. 859 (S.B. 859) was authored by Senator Kevin Eltife, sponsored by Representative Rene Oliveira, and became effective on September 1, 2015, with portions becoming effective on January 1, 2016. S.B. 859 makes several technical and substantive amendments to the Code relating to partnerships and limited liability companies.
Legislative Update
Under the Texas Constitution, the Texas Legislature must meet in regular session every two years for a period not to exceed 140 days. The Texas Constitution also sets out specific timelines for the order of business for the Texas Legislature during those 140 days. Given these constitutionally limited time frames along with those prescribed by legislative rules, the Legislature must set its priorities carefully. In short, while bills may be filed, referred to committee, and even heard in a public hearing, the system is largely designed to ensure that only a small percentage of the bills that are filed ultimately become legislation (subject to gubernatorial response under the Texas Constitution, of course). For example, last session, over 7,500 bills were filed. 1,429 of those bills made it to the Governor’s desk and of those, 1,323 were signed, 56 were vetoed, and 144 were enacted without the Governor’s signature.
TBLF Legislative Report 5/31/21 – 87th Session
The Regular Session of the 87th Legislature adjourned Sine Die today, ending one of the most unusual sessions ever. Starting with an essential lock-down because of the pandemic along with fallout from the Presidential election, then a restructuring of the House with the election of a new Speaker, and then stunned by Winter Storm Uri, the Legislature appeared to retrench for a focused, minimal course to primarily address emergency needs and the budget. What evolved was something quite different, and ended with a quorum-busting walkout by House Democrats, with multiple special sessions and vetoes threatened.
TBLF Legislative Report 5/21/21 - 87th Session
The session’s slow start, from the pandemic and Winter Storm Uri, is looming large as only 200 of the approximate 7000 bills filed have actually passed. Virtually all major issues, including the Governor’s emergency items, remain outstanding, setting the stage for a hectic finish as the May 31st sine die approaches. Exacerbating the situation, the House on Thursday abruptly recessed till Sunday in an effort to spur action on the low output of HBs pending in the Senate.
TBLF Legislative Report - 5/14/21 – 87th Session
With the usual array of late-night antics, lengthy floor calendars, points of order, and chubbing, the session wind-down rules kicked-in for remaining HBs in the House. The rules effectively killed hundreds of unreached bills set on the Thursday House calendar, along with all other non-local HBs pending in committee. Unfortunately, included in the unreached bills was HB 1875, the Business Courts bill. The bill came within 16 bills of being taken up on the floor, which essentially translated to a matter of minutes. Notwithstanding, the set-back, the effort went further and had more support and momentum than in any previous session. Its chances for future success have been greatly advanced.
TBLF Legislative Report 4/23/21 – 87th Session
On Thursday, after 12 hours of continuous debate, the state’s biennial budget bill (SB 1) passed the House, 149 to 0. There were 240 amendments filed, with 146 actually adopted, a sharp reduction from prior session amendment activity. The touted Medicaid participation amendment was not adopted. The bill now heads back to the Senate, and then to a conference committee. The budget work capped a week focused on government operation, including significant tweaking (HB 1525) to last-session’s massive public school finance reform bill.
TBLF Legislative Report 4/16/21 – 87th Session
Lots of motion this week in the Senate with Lt. Gov. Patrick’s 31-bill priority package, including guns and ‘hotel’ carry (‘constitutional’ carry, quite noticeably, also advanced in the House), the “Business Freedom & Uniformity Act” (SB 14) (which prevents local governments from imposing certain employment practices on businesses, like mandatory sick leave), charter school tweaks, a prohibition on personal data sales by state agencies, and the limitation of women’s sports to biological females. The awaited casino gaming effort finally emerged in a House committee hearing, where Las Vegas Sands executives pitched a constitutional amendment to authorize 4 destination-type casinos in Texas. The re-energized initiative is being accompanied by a 4-city media campaign.
TBLF Legislative Report 4/09/21 – 87th Session
On Tuesday, the Legislature returned from the short Easter break with a bang. A $250B state budget passed the Senate. Abortion, medical marijuana, the Star Spangled Banner Protection Act, voter integrity/suppression (depending on your viewpoint), COVID liability limits, and broadband access, all received significant legislative attention, along with much of the TBLF agenda. The session’s committee hearing phase is now in full swing, with longer floor calendars materializing. Both the House and Senate have even conducted expedited, local and consent calendars. So the reality of the session, and the enormity of the tasks ahead is setting in.
Spring, 2013
This issue includes articles entitled: "Legislation Update on Article 4A Amendment" by Roger Bartlett; "Potential Impact of the Canning Decision on CFPB Rules" by Cheryl Crandall Tangen; and "Legal Opinions Committee Update: Dodd-Frank and Swap Guarantees by and Joint and Several Liability Provisions for Entities that are not Eligible Contract Participants" by Steve Tarry.
Fall, 2015
Includes articles the 84th Session of the Texas Legislature, specifically: "2015 Texas Legislative Update on Entity Law" by Daryl Robertson; "A Series LLC Is Now Included Under The Texas UCC’s Definition Of Person, Removing Uncertainty For Secured Lending Transactions" by James Leeland; "Power of Attorney Bill (HB 3095)" by Jacqueline Akins. There were two non-legislative articles as well, including: "Confidentiality of Email – The Changing Consensus" by Ronald Chichester; and "Texas Crowdfunding Portals Provide Texas Businesses New Access to Investment Dollars" by R. Jason Pierce.
Fall, 2015
Includes articles the 84th Session of the Texas Legislature, specifically: "2015 Texas Legislative Update on Entity Law" by Daryl Robertson; "A Series LLC Is Now Included Under The Texas UCC’s Definition Of Person, Removing Uncertainty For Secured Lending Transactions" by James Leeland; "Power of Attorney Bill (HB 3095)" by Jacqueline Akins. There were two non-legislative articles as well, including: "Confidentiality of Email – The Changing Consensus" by Ronald Chichester; and "Texas Crowdfunding Portals Provide Texas Businesses New Access to Investment Dollars" by R. Jason Pierce.
Spring, 2013
This issue includes articles entitled: "Legislation Update on Article 4A Amendment" by Roger Bartlett; "Potential Impact of the Canning Decision on CFPB Rules" by Cheryl Crandall Tangen; and "Legal Opinions Committee Update: Dodd-Frank and Swap Guarantees by and Joint and Several Liability Provisions for Entities that are not Eligible Contract Participants" by Steve Tarry.