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.