By: Harris of Tarrant S.B. No. 518
A BILL TO BE ENTITLED
AN ACT
1-1 relating to rights and remedies of a buyer under The Securities
1-2 Act.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection D, Section 33, The Securities Act
1-5 (Article 581-33, Vernon's Texas Civil Statutes), is amended by
1-6 adding Subdivision (8) to read as follows:
1-7 (8) In damages, a buyer shall recover reasonable
1-8 attorney's fees, in addition to other damages specified herein.
1-9 SECTION 2. The importance of this legislation and the
1-10 crowded condition of the calendars in both houses create an
1-11 emergency and an imperative public necessity that the
1-12 constitutional rule requiring bills to be read on three several
1-13 days in each house be suspended, and this rule is hereby suspended,
1-14 and that this Act take effect and be in force from and after its
1-15 passage, and it is so enacted.