By Wentworth S.B. No. 1855 75R6635 DAK-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the specification of venue for actions arising from 1-3 certain major transactions. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter B, Chapter 15, Civil Practice and 1-6 Remedies Code, is amended by adding Section 15.019 to read as 1-7 follows: 1-8 Sec. 15.019. MAJOR TRANSACTIONS: SPECIFICATION OF VENUE BY 1-9 AGREEMENT. (a) In this section, "major transaction" means one 1-10 transaction or a series of transactions under which a person pays 1-11 or receives, or is obligated to pay or entitled to receive, 1-12 consideration with an aggregate value equal to or greater than $1 1-13 million. The term does not include a transaction or series of 1-14 transactions entered into primarily for personal, family, or 1-15 household purposes without regard to the aggregate value. 1-16 (b) An action arising from a major transaction shall be 1-17 brought in a county if the party against whom the action is brought 1-18 has agreed in writing that a suit arising from the transaction may 1-19 be brought in that county. 1-20 (c) Notwithstanding any other provision of this title, an 1-21 action arising from a major transaction may not be brought in a 1-22 county if: 1-23 (1) the party bringing the action has agreed in 1-24 writing that an action arising from the transaction may not be 2-1 brought in that county, and the action may be brought in another 2-2 county of this state or in another jurisdiction; or 2-3 (2) the party bringing the action has agreed in 2-4 writing that an action arising from the transaction must be brought 2-5 in another county of this state or in another jurisdiction, and the 2-6 action may be brought in that other county, under this section or 2-7 otherwise, or in that other jurisdiction. 2-8 (d) This section does not apply to an action if: 2-9 (1) the agreement described by this section was 2-10 unconscionable at the time that it was made; 2-11 (2) the agreement regarding venue is voided under 2-12 Section 35.52, Business & Commerce Code; or 2-13 (3) venue is established under a statute of this state 2-14 other than this title. 2-15 (e) This section does not affect venue and jurisdiction in 2-16 an action arising from a transaction that is not a major 2-17 transaction. 2-18 SECTION 2. This Act applies only to a cause of action 2-19 accruing on or after the effective date of this Act, without regard 2-20 to whether an agreement relating to the venue of the action was 2-21 made before, on, or after the effective date of this Act. A cause 2-22 of action accruing before the effective date of this Act is 2-23 governed by the law in effect at the time the cause of action 2-24 accrued, and that law is continued in effect for that purpose. 2-25 SECTION 3. The importance of this legislation and the 2-26 crowded condition of the calendars in both houses create an 2-27 emergency and an imperative public necessity that the 3-1 constitutional rule requiring bills to be read on three several 3-2 days in each house be suspended, and this rule is hereby suspended, 3-3 and that this Act take effect and be in force from and after its 3-4 passage, and it is so enacted.