By:  Uher                                             H.B. No. 1694
       73R5745 LJR-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to compensation allowed for services performed by a credit
    1-3  service organization.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 18.07, Business & Commerce Code, is
    1-6  amended by adding Subsection (e) to read as follows:
    1-7        (e)  Notwithstanding Article 3.15, 4.01, or 5.02, Title 79,
    1-8  Revised Statutes (Article 5069-1.01 et seq., Vernon's Texas Civil
    1-9  Statutes), a credit service organization may receive, and a buyer
   1-10  may pay, compensation for the credit service organization's
   1-11  brokering or guaranteeing a loan for the buyer or arranging a loan
   1-12  or other extension of credit for the buyer.
   1-13        SECTION 2.  The importance of this legislation and the
   1-14  crowded condition of the calendars in both houses create an
   1-15  emergency and an imperative public necessity that the
   1-16  constitutional rule requiring bills to be read on three several
   1-17  days in each house be suspended, and this rule is hereby suspended,
   1-18  and that this Act take effect and be in force from and after its
   1-19  passage, and it is so enacted.