Texas Business Lawyer

New federal laws have been enacted to thwart money laundering as well as terrorism-related financing. The laws will require real estate agents to collect and validate more personal information from sellers and buyers. Proof of identification of all parties must be given before a transaction can occur.

If the client whether buyer or seller is a corporation, corporate documentation must be given which names all the corporate directors. The receipt of all funds obtained during transactions must be included in a report written by the realtor. In addition, all documentation of identification and receipt of funds must be kept for a minimum of five years and provided to the Financial Transactions and Reports Analysis Centre of Canada.

For more information on real estate law, contact the offices of Slater & Kennon, L.L.P. at 512-472-2431 today.

Steven C.  Preston has moved on from the Small Business Association to become the Secretary of Housing and Urban Development. He is credited with the overhaul of the agency’s loan disaster program which was crushed from aftermath of Hurricane Katrina. His departure is unfortunate as while significant improvements have been made under his watch, there are still many problems. This is especially worrisome given the weakening economy.

It is predicted that a replacement will not be found for at least a year. Cuts by the Bush administration and strain from the hurricanes have taken a huge toll. The SBA’s budget was $482 million this year which is half of what it was in 2001.

For legal assistance with your small business, please contact the Austin business lawyers of Slater & Kennon, L.L.P. -today at 512-472-2431.

As the national economy falters, Texans have reason to rejoice, according to state Comptroller Susan Combs.

Speaking in Beaumont this week, Combs was upbeat about the growth of the Texas economy. She said that Texas accounted for up to 37% of all new jobs created in the United States last year. Texas’ 262,000 new jobs dwarfed its nearest competitor (New York, with 50,000 new jobs) and was greater than the next six states combined.

Combs attributed the success of the Texas economy to an avoidance of the “subprime mess,” a “pro-business climate,” and “reasonable taxes.”

Austin business lawyers Slater & Kennon can help you and your business take advantage of the thriving Texas economy. For help with business formation, business litigation, contract law, and more, call 512-472-2431 today