73R9243 LJD-F
By D. Smith of Harris H.B. No. 2127
Substitute the following for H.B. No. 2127:
By D. Smith of Harris C.S.H.B. No. 2127
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the amounts that may be charged and received in
1-3 connection with a loan or other extension of credit.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Article 1.01, Title 79, Revised Statutes (Article
1-6 5069-1.01, Vernon's Texas Civil Statutes), is amended by amending
1-7 Subsections (e)-(i) and adding Subsections (j)-(y) to read as
1-8 follows:
1-9 (e) "Person" means an individual, partnership,
1-10 corporation, joint venture, limited liability company, trust,
1-11 association, or other <any> legal entity, however organized.
1-12 (f) "Open-end account <Account>" means any account
1-13 created pursuant to<, under> a written contract under which a <the>
1-14 creditor may permit an <the> obligor to make purchases or borrow
1-15 money from time to time, and under which interest or time price
1-16 differential may from time to time be computed on an outstanding
1-17 unpaid balance. The term includes, but is not limited to, accounts
1-18 under agreements described by Section (4), Article 3.15; Section
1-19 (4), Article 4.01; and Chapters 6 and 15 of this Title.
1-20 (g) "Credit card transaction <Card Transaction>" means
1-21 a transaction in which a card is or may be used to debit an
1-22 open-end account in connection with the purchase or lease of goods
1-23 or services or the lending of money, which card is or may be used
2-1 for personal, family, or household use.
2-2 (h) "Merchant discount <Discount>" means any charge,
2-3 fee, discount, compensating balance, or other consideration imposed
2-4 by a creditor on or received directly or indirectly by the creditor
2-5 from any seller or lessor of goods or services in connection with a
2-6 credit card transaction under a lender credit card agreement
2-7 between an obligor <the customer> and the creditor. The term
2-8 includes any consideration whatsoever received by the <a> creditor
2-9 from any person other than the obligor in connection with a credit
2-10 card transaction under a lender credit card agreement between the
2-11 obligor and the creditor. Any such consideration received by a
2-12 subsidiary of the creditor or parent company of the creditor or any
2-13 subsidiary of the creditor's parent company shall be deemed to have
2-14 been received by the creditor <in determining if any such
2-15 consideration has been received by the creditor>.
2-16 (i) "Lender credit card agreement <Credit Card
2-17 Agreement>" means an agreement between a creditor (other than the
2-18 seller or lessor) and an obligor under which credit is or may be
2-19 extended for personal, family, or household use and under which:
2-20 (1) by means of a credit card, the obligor may obtain loans from
2-21 the creditor, which may be advanced by other participating persons,
2-22 and may lease or purchase goods or services from more than one
2-23 participating lessor or seller who honor the creditor's card, and
2-24 the creditor or some other person acting in cooperation with the
2-25 creditor will reimburse the other participating persons, lessors,
3-1 or sellers for the goods or services purchased or leased, and the
3-2 obligor is obligated under his or her agreement with the creditor
3-3 to pay the creditor the amount of such loans or the costs of such
3-4 leases or purchases; (2) the unpaid balance of such loans, leases,
3-5 and purchases and any interest thereon are debited to the obligor's
3-6 account with the creditor under the obligor's agreement with the
3-7 creditor; (3) interest is not precomputed but may be computed on
3-8 the balances of the obligor's account outstanding with the creditor
3-9 from time to time; and (4) the obligor may defer payment of any
3-10 part of the balance. The term includes all agreements for open-end
3-11 accounts authorized or defined under Articles 3.15(4), 4.01(4),
3-12 15.01(k), and 15.01(l) of this Title pursuant to which credit card
3-13 transactions as defined by Section (g) <in Article 1.01(g)> of this
3-14 Article <Title> may be made or in connection with which a merchant
3-15 discount as defined by Section (h) <in Article 1.01(h)> of this
3-16 Article <Title> is imposed or received by the creditor. The term
3-17 does not include an open-end account credit agreement between a
3-18 seller or lessor and its own buyer or lessee. The term does not
3-19 include agreements under which the entire balance is due and
3-20 payable in full each month and no interest is charged when the
3-21 obligor pays in accordance with such terms.
3-22 (j) "Affiliate" of an obligor means a person that
3-23 directly or indirectly, through one or more intermediaries,
3-24 controls, is controlled by, or is under common control with the
3-25 obligor. The term "control" means the possession, directly or
4-1 indirectly, of the power to direct or cause the direction of the
4-2 management and policies of a person, whether through the ownership
4-3 of voting securities, by contract, or otherwise.
4-4 (k) "Business entity" means a partnership,
4-5 corporation, joint venture, limited liability company, or other
4-6 business organization, however organized.
4-7 (l) "Commercial loan" means a loan that is made
4-8 primarily for business, commercial, investment, agricultural, or
4-9 other similar purposes. The term does not include a loan that is
4-10 made primarily for personal, family, or household use.
4-11 (m) "Contract interest" means conventional interest,
4-12 whether or not denominated as interest, that an obligor has agreed
4-13 to pay to a creditor.
4-14 (n) "Creditor" means a person that loans money or
4-15 otherwise extends credit. The term does not include a judgment
4-16 creditor.
4-17 (o) "Guaranty" means an agreement pursuant to which an
4-18 obligor:
4-19 (1) assumes, guarantees, or otherwise becomes
4-20 primarily or contingently liable for the payment or performance of
4-21 an obligation of another person;
4-22 (2) provides security for the payment or
4-23 performance of an obligation of another person, whether through the
4-24 creation of a lien or security interest or otherwise; or
4-25 (3) agrees to purchase, or to advance
5-1 consideration to purchase, the obligation or any property
5-2 constituting security for the payment or performance of the
5-3 obligation.
5-4 (p) "Judgment creditor" means a person to whom a money
5-5 judgment is payable.
5-6 (q) "Judgment debtor" means a person obligated to pay
5-7 a money judgment.
5-8 (r) "Judgment interest" means interest on a money
5-9 judgment, whether the interest accrues before, on, or after the
5-10 date the judgment is rendered. For purposes of this Subtitle, the
5-11 term "money judgment" includes legal interest or conventional
5-12 interest, if any, that is payable to a judgment creditor pursuant
5-13 to a judgment.
5-14 (s) "Late payment charge" means compensation
5-15 that: (i) is or will become due and payable, or was paid, by an
5-16 obligor to a creditor solely as a result of the fact that a regular
5-17 installment was not paid to the creditor at or before the time the
5-18 regular installment first became due and payable; and (ii) is not
5-19 denominated by the creditor as principal or interest. The term
5-20 does not include judgment interest. For purposes of this Subtitle,
5-21 the term "regular installment" means an amount of money, other than
5-22 a late payment charge, paid or payable by an obligor to a creditor
5-23 pursuant to an agreement in which the obligor has agreed to pay to
5-24 the creditor interest that is denominated as interest by the
5-25 creditor.
6-1 (t) "Loan" means a loan of money or other extension of
6-2 credit if the obligor has unconditionally agreed to pay to the
6-3 creditor a sum certain under the loan or other extension of credit.
6-4 The term does not include a judgment.
6-5 (u) "Loan expenses," in connection with any loan,
6-6 means the expenses incurred by a creditor, either for its own
6-7 account or for the account of itself and other creditors, in
6-8 documenting, making, closing, disbursing, extending, or renewing
6-9 the loan. The expenses may include fees and expenses of legal
6-10 counsel for the creditor and of appraisers or other persons
6-11 retained by the creditor for the purpose of determining whether to
6-12 make the loan.
6-13 (v) "Obligor" means a person to whom money is loaned
6-14 or credit is otherwise extended. The term does not include:
6-15 (1) a judgment debtor;
6-16 (2) a surety; or
6-17 (3) a guarantor.
6-18 (w) "Prepayment premium" means compensation that:
6-19 (1) is or will become due and payable, or was
6-20 paid, by an obligor to a creditor solely as a result of, or as a
6-21 condition to, the payment or maturity of all or a portion of the
6-22 principal amount of a loan before its stated maturity or its
6-23 regularly scheduled date or dates of payment, whether as a result
6-24 of:
6-25 (A) acceleration of maturity on a
7-1 declaration by the creditor or otherwise; or
7-2 (B) any election by the obligor to pay all
7-3 or a portion of the principal amount before its stated maturity or
7-4 its regularly scheduled date or dates of payment; and
7-5 (2) is not denominated by the creditor as
7-6 principal or interest.
7-7 (x) "Qualified commercial loan" means:
7-8 (1) a commercial loan in the original principal
7-9 amount of $1 million or more; or
7-10 (2) any renewal or extension of a commercial
7-11 loan in the original principal amount of $1 million or more,
7-12 whether or not the principal amount of the loan at the time of its
7-13 renewal or extension is $1 million or more.
7-14 (y) "Time price differential" means an amount, however
7-15 denominated, that is:
7-16 (1) added to the price at which a seller offers
7-17 to sell services or real or personal property to a purchaser for
7-18 cash payable at the time of sale; and
7-19 (2) paid or payable to the seller by the
7-20 purchaser for the privilege of paying the offered sales price after
7-21 the time of sale.
7-22 SECTION 2. Article 1.02, Title 79, Revised Statutes (Article
7-23 5069-1.02, Vernon's Texas Civil Statutes), is amended to read as
7-24 follows:
7-25 Art. 1.02. CONVENTIONAL INTEREST OR TIME PRICE DIFFERENTIAL
8-1 ALLOWED; MAXIMUM RATE <MAXIMUM RATES> OF CONVENTIONAL INTEREST
8-2 UNLESS OTHERWISE FIXED BY LAW. (a) A creditor is allowed to
8-3 contract for, charge, and receive from an obligor conventional
8-4 interest or a time price differential.
8-5 (b) Except as otherwise fixed by law, the maximum rate of
8-6 interest shall be ten percent per annum. A greater rate of
8-7 interest than ten percent per annum unless otherwise authorized by
8-8 law shall be deemed usurious. All contracts for usury are contrary
8-9 to public policy and shall be subject to the appropriate penalties
8-10 prescribed in Article 1.06 of this Subtitle.
8-11 SECTION 3. Article 1.04, Title 79, Revised Statutes (Article
8-12 5069-1.04, Vernon's Texas Civil Statutes), is amended by amending
8-13 the article heading to read as follows:
8-14 Art. 1.04. MAXIMUM <LIMIT ON> RATE OF CONVENTIONAL INTEREST;
8-15 MAXIMUM RATE PRODUCED BY A TIME PRICE DIFFERENTIAL PURSUANT TO
8-16 CERTAIN AGREEMENTS.
8-17 SECTION 4. Articles 1.04(a), (b), (c), (l), and (o), Title
8-18 79, Revised Statutes (Article 5069-1.04, Vernon's Texas Civil
8-19 Statutes), are amended to read as follows:
8-20 (a) Both (i) the maximum rate of conventional interest and
8-21 (ii) the maximum rate produced by a time price differential
8-22 pursuant to an agreement described in Chapter 6, 6A, or 7 of this
8-23 Title are fixed at <The parties to any written contract may agree
8-24 to and stipulate for any rate of interest, or in an agreement
8-25 described in Chapter 6, 6A, or 7 of this Title, any rate or amount
9-1 of time price differential producing a rate, that does not exceed>:
9-2 (1) an indicated rate ceiling that is the auction
9-3 average rate quoted on a bank discount basis for 26-week treasury
9-4 bills issued by the United States government, as published by the
9-5 Federal Reserve Board, for the week preceding the week in which the
9-6 rate is contracted for, multiplied by two, and rounded to the
9-7 nearest one-quarter of one percent; or, as an alternative,
9-8 (2) an annualized or quarterly ceiling that is the
9-9 average of the computations under Subsection (1) of this section
9-10 and is computed pursuant to Section (d) of this Article.
9-11 (b)(1) If a computation under Section (a)(1), (a)(2), or (c)
9-12 of this Article is less than 18 percent a year, the ceiling under
9-13 that provision is 18 percent a year. If a computation under
9-14 Section (a)(1), (a)(2), or (c) of this Article is more than 24
9-15 percent a year, the ceiling under that provision is 24 percent a
9-16 year.
9-17 (2) Notwithstanding the provisions of Subsection (1)
9-18 of this Section (b), in the case of any qualified commercial loan
9-19 <on any contract under which credit in an amount in excess of
9-20 $250,000 is or is to be extended, or any extension or renewal of
9-21 such a contract, and under which the credit is extended for
9-22 business, commercial, investment, or other similar purpose, but
9-23 excluding any contract that is not for any of those purposes and is
9-24 primarily for personal, family, household, or agricultural use>,
9-25 the 24 percent limitation on the ceilings in Section (b)(1) above
10-1 that is applicable to the computations under Section (a)(1),
10-2 (a)(2), or (c) of this Article shall not apply, and the limitation
10-3 on the ceilings determined by those computations shall be 28
10-4 percent a year.
10-5 (3) References in this Article to the indicated rate
10-6 ceiling, annualized ceiling, quarterly ceiling, or monthly ceiling
10-7 mean such a ceiling as modified by this Section (b).
10-8 (4) Any credit agreement described in Section (a),
10-9 Article 1.11, of this Title is subject to the terms, ceilings, and
10-10 other provisions of that Article and, except as limited by Article
10-11 1.11, to the terms, ceilings, and other provisions of this Article.
10-12 (5) Notwithstanding any other provision of law, on any
10-13 lender credit card agreement in connection with which a merchant
10-14 discount as defined in Article 1.01(h) of this Title is imposed or
10-15 received by the creditor, the creditor may not contract for,
10-16 charge, or receive, on any amount owed for any credit card
10-17 transaction, a rate in excess of the ceiling allowed under Article
10-18 15.02(d) of this Title (which ceiling shall be adjusted in
10-19 accordance with Article 15.02(d)) or any other fees or charges
10-20 which are not authorized under Chapter 15 of this Title or which
10-21 are in excess of the amounts authorized under Chapter 15.
10-22 (6) Notwithstanding Article 15.10 of this Title, any
10-23 lender credit card agreement in which the creditor is a bank,
10-24 savings and loan association, or authorized lender under Chapter 3
10-25 of this Title is subject to Chapter 15 of this Title and Article
11-1 15.02(d) thereof.
11-2 (7) If a creditor and an obligor agree that contract
11-3 interest in respect of any qualified commercial loan shall be
11-4 computed on the basis of a 360-day year of twelve 30-day months,
11-5 each rate per year referred to in this Article, in the case of such
11-6 a loan, means a rate per year consisting of 360 days and of twelve
11-7 30-day months.
11-8 (c) A monthly ceiling is available only in variable rate
11-9 contracts, including contracts for open-end accounts, that are not
11-10 made for personal, family, or household use. Subject to Section
11-11 (b) of this Article, the monthly ceiling is the average of all the
11-12 computations under Section (a)(1) of this Article for auctions
11-13 occurring during the preceding calendar month and shall be computed
11-14 by the consumer credit commissioner on the first business day of
11-15 the calendar month in which the rate applies. In contracts for
11-16 which the monthly ceiling is available under this section, if the
11-17 parties agree that the rate is subject to being adjusted on a
11-18 monthly basis in accordance with Section (f) of this Article, they
11-19 may further contract that the rate from time to time in effect may
11-20 not exceed the monthly ceiling from time to time in effect under
11-21 this section, in which event <and> the monthly ceiling from time to
11-22 time in effect is the ceiling on those contracts, instead of any
11-23 ceiling under Section (a) <Article 1.04(a)> of this Article
11-24 <Title>.
11-25 (l) The maximum rate on any contract to renew or extend the
12-1 terms of payment of any indebtedness <at any time incurred,> is the
12-2 applicable ceiling allowed by this Article for a contract entered
12-3 at the time the renewal or extension is made or agreed to.
12-4 (o)(1) All other written contracts whatsoever, except those
12-5 otherwise authorized by law, which may in any way, directly or
12-6 indirectly, provide for a greater rate of interest shall be subject
12-7 to the appropriate penalties prescribed in this Subtitle.
12-8 (2) If, in any contract, including one for an open-end
12-9 account, subject to Chapter 4, 5, 6, 6A, 7, or 15 of this Title,
12-10 any person contracts for, charges, or receives a rate or amount of
12-11 interest or time price differential that exceeds the rate allowed
12-12 by that Chapter and the rate allowed by this Article, the amount of
12-13 the penalty for that overcharge shall be determined under Chapter 8
12-14 of this Title rather than under this Subtitle, and all of the
12-15 provisions of Articles 8.01, 8.02, 8.03, 8.04, 8.05, and 8.06 of
12-16 this Title are in effect as to that contract and are applicable to
12-17 this Article as if it were a part of Subtitle 2 of this Title. The
12-18 failure to perform any duty or comply with any prohibition required
12-19 by this Article <1.04>, in a contract entered under authority of
12-20 this Article <1.04>, shall be subject to the penalties set out in
12-21 Article 8.01(b) and shall be subject to such of the other
12-22 provisions of Articles 8.01 through 8.06 which apply to failures to
12-23 perform duties or comply with prohibitions to the same extent as if
12-24 the duties and prohibitions in this Article <1.04> were contained
12-25 in Subtitle 2.
13-1 (3) The consumer credit commissioner, subject to
13-2 Section (l), Article 2.01, of this Title, shall enforce Chapters 2,
13-3 3, 4, 5, 6, 6A, 7, 8, 15, and 51 of this Title, as modified by this
13-4 Article and Article 2.08 of this Title, and shall enforce this
13-5 Article as applicable to contracts subject to those Chapters.
13-6 Article 3.08 of this Title is applicable to transactions made by
13-7 licensees pursuant to this Article that otherwise are subject to
13-8 Chapters 4, 5, or 15 of this Title. The provisions of Article 3.12
13-9 of this Title will apply to loans made under authority of this
13-10 Article which are subject to Chapter 4 of this Title. In any
13-11 contracts subject to the Texas Credit Union Act, as amended
13-12 (Article 2461-1.01 et seq., Vernon's Texas Civil Statutes), the
13-13 credit union commissioner shall enforce this Article.
13-14 (4) In any contract subject to Chapter 24 of the
13-15 Insurance Code, the State Board of Insurance shall enforce this
13-16 Article.
13-17 SECTION 5. Article 1.04(n)(1), Title 79, Revised Statutes
13-18 (Article 5069-1.04, Vernon's Texas Civil Statutes), is amended to
13-19 read as follows:
13-20 (1) Any loan made under authority of this Article that
13-21 is extended either primarily for personal, family, or household use
13-22 but not for business, commercial, investment, agricultural, or
13-23 other similar purposes, or primarily for the purchase of a motor
13-24 vehicle, other than a heavy commercial vehicle as defined in
13-25 Section (n), Article 7.01, of this Title <Title 79, Revised
14-1 Statutes (Article 5069-7.01, Vernon's Texas Civil Statutes)>, and
14-2 that is payable in two or more installments, not secured by a lien
14-3 on real estate, and that is entered by a person engaged in the
14-4 business of making or negotiating those types of loans, is subject
14-5 to Chapter 4 of this Title, and any person except a bank or savings
14-6 and loan association engaged in that business shall obtain a
14-7 license under Chapter 3 of this Title.
14-8 SECTION 6. Subtitle 1, Title 79, Revised Statutes (Article
14-9 5069-1.01 et seq., Vernon's Texas Civil Statutes), is amended by
14-10 adding Articles 1.13, 1.14, 1.15, 1.16, and 1.17 to read as
14-11 follows:
14-12 Art. 1.13. CERTAIN ITEMS THAT DO NOT CONSTITUTE INTEREST.
14-13 (a) The term "interest," as used in this Subtitle, does not
14-14 include any time price differential. The contracting for,
14-15 charging, or receipt of a time price differential is not regulated
14-16 by this Title, except to the extent regulated by Chapter 6, 6A, or
14-17 7 of this Title.
14-18 (b) In the case of any qualified commercial loan made to a
14-19 business entity, the term "interest," as used in this Subtitle,
14-20 does not include:
14-21 (1) any discount or commission that an obligor has
14-22 paid or agreed to pay to one or more underwriters of securities
14-23 issued by the obligor;
14-24 (2) any option or other right to exchange, redeem, or
14-25 convert all or a portion of the principal amount of the loan, or
15-1 interest on the principal amount, for or into capital stock or
15-2 other equity securities of an obligor or of any affiliate of the
15-3 obligor;
15-4 (3) any option or other right to purchase in any other
15-5 manner capital stock or other equity securities of an obligor or of
15-6 any affiliate of the obligor;
15-7 (4) any option or other right to participate in the
15-8 income, revenues, or profits:
15-9 (A) of an obligor or of any affiliate of the
15-10 obligor;
15-11 (B) of any segment of the business or operations
15-12 of an obligor or of any affiliate of the obligor; or
15-13 (C) derived or to be derived from any interest
15-14 of an obligor or of any affiliate of the obligor in any real or
15-15 personal property, including any proceeds of the sale or other
15-16 disposition of the interest; or
15-17 (5) any compensation realized as a result of the
15-18 receipt, exercise, sale, or other disposition of any option or
15-19 other right described in Subsection (2), (3), or (4) of this
15-20 section.
15-21 (c) For purposes of this Article, the terms "security" and
15-22 "equity security" have the meanings assigned to those respective
15-23 terms by the Securities Exchange Act of 1934 (15 U.S.C. Sec. 78a et
15-24 seq.) and its subsequent amendments.
15-25 Art. 1.14. PREPAYMENT PREMIUMS. (a) A creditor is allowed
16-1 to contract for, charge, and receive prepayment premiums. An
16-2 agreement to pay a prepayment premium is enforceable in accordance
16-3 with the terms of that agreement.
16-4 (b) A prepayment premium that an obligor has agreed to pay
16-5 to a creditor does not constitute "interest," as that term is used
16-6 in this Subtitle.
16-7 (c) This Article does not apply to any loan that is subject
16-8 to Chapter 2, 3, 4, 5, 6, 6A, 7, 8, or 15 of this Title.
16-9 Art. 1.15. GUARANTIES. (a) A creditor may require, as a
16-10 condition to making, renewing, or extending a qualified commercial
16-11 loan made to a business entity, that an obligor enter into a
16-12 guaranty, and neither the guaranty nor any compensation received by
16-13 the creditor pursuant to the guaranty shall constitute "interest,"
16-14 as that term is used in this Subtitle, in respect of such loan or
16-15 in respect of the obligation that is the subject of the guaranty.
16-16 (b) This Article does not apply to any loan that is subject
16-17 to Chapter 2, 3, 4, 5, 6, 6A, 7, 8, or 15 of this Title.
16-18 Art. 1.16. LOAN EXPENSES. (a) Except as provided by
16-19 Article 8, Chapter V, The Texas Banking Code (Article 342-508,
16-20 Vernon's Texas Civil Statutes), a creditor is allowed to:
16-21 (1) contract for the payment by an obligor of loan
16-22 expenses in connection with a loan that is or was made, or is or
16-23 was proposed to be made, to the obligor; and
16-24 (2) charge and receive the loan expenses from the
16-25 obligor or require the obligor to pay the loan expenses to the
17-1 persons who rendered services to the creditor.
17-2 (b) Loan expenses agreed to be paid by an obligor in
17-3 connection with a loan that is or was made, or is or was proposed
17-4 to be made, to the obligor do not constitute "interest," as that
17-5 term is used in this Subtitle.
17-6 (c) This Article does not apply to any loan that is subject
17-7 to Chapter 2, 3, 4, 5, 6, 6A, 7, 8, or 15 of this Title.
17-8 Art. 1.17. NO PENALTY IN RESPECT OF AMOUNTS PAYABLE PURSUANT
17-9 TO A FINAL JUDGMENT. A creditor is not liable to an obligor under
17-10 this Subtitle as a result of the receipt by the creditor from the
17-11 obligor of any amount of conventional interest (including any
17-12 prepayment premium, late payment charge, or loan expenses that the
17-13 obligor has not agreed to pay), any amount of legal interest, or
17-14 any amount of prepayment premium, late payment charge, or loan
17-15 expenses agreed to be paid by the obligor if the amount is payable
17-16 by the obligor to the creditor pursuant to a judgment that has
17-17 become final and is no longer subject to modification or reversal.
17-18 SECTION 7. The change in law made by this Act applies only
17-19 to a loan of money, or other extension of credit, made or extended
17-20 on or after the effective date of this Act. A loan of money, or
17-21 other extension of credit, that was made or extended before the
17-22 effective date of this Act is covered by the law in effect when
17-23 made or extended and the prior law is continued in full force and
17-24 effect for that purpose.
17-25 SECTION 8. This Act takes effect September 1, 1993.
18-1 SECTION 9. The importance of this legislation and the
18-2 crowded condition of the calendars in both houses create an
18-3 emergency and an imperative public necessity that the
18-4 constitutional rule requiring bills to be read on three several
18-5 days in each house be suspended, and this rule is hereby suspended.