By Gallegos S.B. No. 1508 75R5478 BEM-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the maximum amount that may be charged for an 1-3 electronic transfer of funds. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter D, Chapter 35, Business & Commerce 1-6 Code, is amended by adding Section 35.55 to read as follows: 1-7 Sec. 35.55. MAXIMUM FEE FOR WIRE TRANSFER OF FUNDS. The 1-8 maximum amount that a person may charge for transferring money or 1-9 its equivalent by wire, computer modem, facsimile, or other 1-10 electronic means is five percent of the amount being transferred. 1-11 SECTION 2. This Act takes effect September 1, 1997. 1-12 SECTION 3. The importance of this legislation and the 1-13 crowded condition of the calendars in both houses create an 1-14 emergency and an imperative public necessity that the 1-15 constitutional rule requiring bills to be read on three several 1-16 days in each house be suspended, and this rule is hereby suspended.