By Carona                                              S.B. No. 477
         76R2698 WP-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to electronic filing of financing statements and certain
 1-3     other filings with the secretary of state.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Section 9.409, Business & Commerce Code, is
 1-6     amended by adding Subsection (c) to read as follows:
 1-7           (c)  The secretary of state by rule adopted under Section
 1-8     9.411 may authorize the electronic generation or transmission of a
 1-9     financing statement or other filing made under this subchapter in
1-10     lieu of a paper filing.
1-11           SECTION 2.  Section 9.409(c), Business & Commerce Code, as
1-12     added by this Act, is intended to clarify law existing before the
1-13     effective date of this Act and the authority expressed in that
1-14     section is within the authority previously granted to the secretary
1-15     of state under Section 9.411, Business & Commerce Code.  This Act
1-16     applies to the filing of a financing statement or other filing made
1-17     before, on, or after the effective date of this Act.
1-18           SECTION 3.  The importance of this legislation and the
1-19     crowded condition of the calendars in both houses create an
1-20     emergency and an imperative public necessity that the
1-21     constitutional rule requiring bills to be read on three several
1-22     days in each house be suspended, and this rule is hereby suspended,
1-23     and that this Act take effect and be in force from and after its
1-24     passage, and it is so enacted.