By Dutton H.B. No. 1272 76R4840 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 15.020 to read as 1-7 follows: 1-8 Sec. 15.020. 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, or to settle a personal injury claim, without 1-16 regard to the aggregate value. 1-17 (b) An action arising from a major transaction shall be 1-18 brought in a county if the party against whom the action is brought 1-19 has agreed in writing that a suit arising from the transaction may 1-20 be brought in that county. 1-21 (c) Notwithstanding any other provision of this title, an 1-22 action arising from a major transaction may not be brought in a 1-23 county if: 1-24 (1) the party bringing the action has agreed in 2-1 writing that an action arising from the transaction may not be 2-2 brought in that county, and the action may be brought in another 2-3 county of this state or in another jurisdiction; or 2-4 (2) the party bringing the action has agreed in 2-5 writing that an action arising from the transaction must be brought 2-6 in another county of this state or in another jurisdiction, and the 2-7 action may be brought in that other county, under this section or 2-8 otherwise, or in that other jurisdiction. 2-9 (d) This section does not apply to an action if: 2-10 (1) the agreement described by this section was 2-11 unconscionable at the time that it was made; 2-12 (2) the agreement regarding venue is voidable under 2-13 Section 35.52, Business & Commerce Code; or 2-14 (3) venue is established under a statute of this state 2-15 other than this title. 2-16 (e) This section does not affect venue and jurisdiction in 2-17 an action arising from a transaction that is not a major 2-18 transaction. 2-19 SECTION 2. This Act applies only to a cause of action 2-20 accruing on or after the effective date of this Act, without regard 2-21 to whether an agreement relating to the venue of the action was 2-22 made before, on, or after the effective date of this Act. A cause 2-23 of action accruing before the effective date of this Act is 2-24 governed by the law in effect at the time the cause of action 2-25 accrued, and that law is continued in effect for that purpose. 2-26 SECTION 3. The importance of this legislation and the 2-27 crowded condition of the calendars in both houses create an 3-1 emergency and an imperative public necessity that the 3-2 constitutional rule requiring bills to be read on three several 3-3 days in each house be suspended, and this rule is hereby suspended, 3-4 and that this Act take effect and be in force from and after its 3-5 passage, and it is so enacted.