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.