1-1 By: Hunter of Nueces (Senate Sponsor - Cain) H.B. No. 2674 1-2 (In the Senate - Received from the House April 18, 1995; 1-3 April 19, 1995, read first time and referred to Committee on 1-4 Economic Development; May 16, 1995, reported favorably by the 1-5 following vote: Yeas 9, Nays 0; May 16, 1995, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the charging of interest under certain agreements. 1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-10 SECTION 1. Section (4), Article 1.06, Title 79, Revised 1-11 Statutes (Article 5069-1.06, Vernon's Texas Civil Statutes), is 1-12 amended by adding Subsection (D) to read as follows: 1-13 (D) A person has no civil liability to an obligor and no 1-14 criminal liability for a violation of this Subtitle resulting 1-15 solely from contracting for, charging, or receiving the interest 1-16 provided in Article 1.03 of this Subtitle prior to the 30th day 1-17 after the debt is due and payable. 1-18 SECTION 2. The importance of this legislation and the 1-19 crowded condition of the calendars in both houses create an 1-20 emergency and an imperative public necessity that the 1-21 constitutional rule requiring bills to be read on three several 1-22 days in each house be suspended, and this rule is hereby suspended, 1-23 and that this Act take effect and be in force from and after its 1-24 passage, and it is so enacted. 1-25 * * * * *