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                               * * * * *