74R9262 DWS-F
          By Brady                                              H.B. No. 3162
          Substitute the following for H.B. No. 3162:
          By Crabb                                          C.S.H.B. No. 3162
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the electronic filing of financing statements and
    1-3  related documents.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Chapter 9, Business & Commerce Code, is amended
    1-6  by adding Section 9.412 to read as follows:
    1-7        Sec. 9.412.  ELECTRONIC FILING.  A financing statement or
    1-8  other document filed under this subchapter may be filed
    1-9  electronically if the document otherwise complies with the
   1-10  requirements of Section 9.402 and rules adopted by the secretary of
   1-11  state.  If the debtor's signature is required by this subchapter to
   1-12  be on a financing statement, the secured party must obtain a
   1-13  financing statement signed by the debtor or other writing signed by
   1-14  the debtor authorizing the filing of a financing statement.  The
   1-15  filing officer may adopt practices, procedures, and appropriate
   1-16  rules for the use of electronic and other technologies for the
   1-17  filing of financing statements or other documents, records
   1-18  retention, and provision of information.   This article does not
   1-19  require a financing statement or other document to be on paper and
   1-20  shall be construed to permit use of other technologies as provided
   1-21  by rules adopted by the filing officer.  The filing officer may
   1-22  establish reasonable fees for the provision of electronic
   1-23  information services.
    2-1        SECTION 2.  This Act takes effect September 1, 1995.
    2-2        SECTION 3.  The importance of this legislation and the
    2-3  crowded condition of the calendars in both houses create an
    2-4  emergency and an imperative public necessity that the
    2-5  constitutional rule requiring bills to be read on three several
    2-6  days in each house be suspended, and this rule is hereby suspended.