By Brady                                              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, Section 9.402, Business and Commerce
    1-6  Code, is amended by adding subsection (i) to read as follows:
    1-7        (i)  Any filing under Article 9, Subchapter D, may be filed
    1-8  electronically if it otherwise complies with the requirements of
    1-9  this section and the rules promulgated by the Secretary of State.
   1-10  Filing by electronic means is sufficient with respect to the filing
   1-11  of financing statements or other filings under this subchapter
   1-12  provided that, if the debtor's signature is otherwise required by
   1-13  this subchapter, the secured party obtains a financing statement
   1-14  signed by the debtor or other writing signed (Section 1.201(39)) by
   1-15  the debtor authorizing the filing of a financing statement.  The
   1-16  filing officer is authorized to adopt practices and procedures, and
   1-17  to promulgate appropriate rules, for the utilization of electronic
   1-18  and other technologies for the filing of financing statements or
   1-19  other filings, records retention, and provision of information.  No
   1-20  provision of Article 9 shall be deemed to limit financing
   1-21  statements and other Article 9 filings to paper, and the provisions
   1-22  of Article 9 shall be construed to permit use of other technologies
   1-23  in accordance with rules adopted by the filing officer.  The filing
    2-1  officer is authorized to establish reasonable fees for the
    2-2  provision of electronic information services.
    2-3        SECTION 2.  This Act takes effect September 1, 1995.
    2-4        SECTION 3.  The importance of this legislation and the
    2-5  crowded condition of the calendars in both houses create an
    2-6  emergency and an imperative public necessity that the
    2-7  constitutional rule requiring bills to be read on three several
    2-8  days in each house be suspended, and this rule is hereby suspended.