By Delisi                                               H.B. No. 73
       74R245 DWS-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the fraudulent filing of a financing statement;
    1-3  providing a penalty.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter D, Chapter 9, Business & Commerce
    1-6  Code, is amended by adding Section 9.412 to read as follows:
    1-7        Sec. 9.412.  FRAUDULENT FILING.  (a)  A person may not
    1-8  present for filing or cause to be presented for filing a financing
    1-9  statement if the person knows or has reason to know that the
   1-10  financing statement:
   1-11              (1)  is forged;
   1-12              (2)  contains a material false statement;
   1-13              (3)  is groundless; or
   1-14              (4)  is invalid.
   1-15        (b)  A person who violates Subsection (a) is liable to the
   1-16  owner of property covered by the financing statement for:
   1-17              (1)  the greater of $5,000 or the owner's actual
   1-18  damages;
   1-19              (2)  court costs; and
   1-20              (3)  reasonable attorney's fees.
   1-21        (c)  A person who violates Subsection (a) commits an offense
   1-22  under Section 37.10, Penal Code.
   1-23        SECTION 2.  This Act takes effect September 1, 1995.
   1-24        SECTION 3.  The importance of this legislation and the
    2-1  crowded condition of the calendars in both houses create an
    2-2  emergency and an imperative public necessity that the
    2-3  constitutional rule requiring bills to be read on three several
    2-4  days in each house be suspended, and this rule is hereby suspended.