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Texas Senate Passes Changes to Possessory Lienholder Sales
Thursday, May 28, 2015 7:00 AM

The Texas Senate approved HB 2076 by Rep. René Oliveira (D-Brownsville) and Sen. Robert Nichols (R-Jacksonville), the bill that provides a more effective and secure notification process before a possessory lienholder could sell a motor vehicle, motorboat, vessel, or outboard motor. It ensures that the possessory lienholder cannot conduct the sale without filing the notice with the county, which, in turn, is required to give notice to the credit union when it is the lienholder.

Because the Senate amended the bill, it must go back to the House, which can concur with or reject the change. If they do not concur, the bill would go to a conference committee.

See the Leaguer article from Friday, May 22, here for more details on the bill.

Contact Jeff Huffman, president, Texas Credit Union Association, at 469-385-6488 or jhuffman@txcua.coop for more information.