By George                                             H.B. No. 1306
         76R3690 WP-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to filing of financing statements and certain other
 1-3     filings with the secretary of state.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Section 9.402, Business & Commerce Code, is
 1-6     amended by adding Subsection (i) to read as follows:
 1-7           (i)  This code does not require that a financing statement or
 1-8     other filing made under this subchapter be created or transmitted
 1-9     to the secretary  of state on paper.  A financing statement or
1-10     other filing made in accordance with rules adopted under this
1-11     subchapter is not ineffective or insufficient because the financing
1-12     statement or other filing is generated or transmitted
1-13     electronically.
1-14           SECTION 2.  Section 9.402(i), Business & Commerce Code, as
1-15     added by this Act, is intended to clarify law existing before  the
1-16     effective date of this Act, and the authority expressed in that
1-17     section is within the authority previously granted to the secretary
1-18     of state under Section 9.411, Business & Commerce Code.  This Act
1-19     applies to the filing of a financing statement or other filing made
1-20     before, on, or after the effective date of this Act.
1-21           SECTION 3.  The importance of this legislation and the
1-22     crowded condition of the calendars in both houses create an
1-23     emergency and an imperative public necessity that the
1-24     constitutional rule requiring bills to be read on three several
 2-1     days in each house be suspended, and this rule is hereby suspended,
 2-2     and that this Act take effect and be in force from and after its
 2-3     passage, and it is so enacted.