By:  Carona                                            S.B. No. 478
                                A BILL TO BE ENTITLED
                                       AN ACT
 1-1     relating to filing of financing statements and certain other
 1-2     filings with the secretary of state.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Section 9.402, Business & Commerce Code, is
 1-5     amended by adding Subsection (i) to read as follows:
 1-6           (i)  This code does not require that a financing statement or
 1-7     other filing made under this subchapter be created or transmitted
 1-8     to the secretary of state on paper.  A financing statement or other
 1-9     filing made in accordance with rules adopted under this subchapter
1-10     is not ineffective or insufficient because the financing statement
1-11     or other filing is generated or transmitted electronically.
1-12           SECTION 2.  Subsection (i), Section 9.402, Business &
1-13     Commerce Code, as added by this Act, is intended to clarify law
1-14     existing before the effective date of this Act, and the authority
1-15     expressed in that section is within the authority previously
1-16     granted to the secretary of state under Section 9.411, Business &
1-17     Commerce Code.  This Act applies to the filing of a financing
1-18     statement or other filing made before, on, or after the effective
1-19     date of this Act.
1-20           SECTION 3.  The importance of this legislation and the
1-21     crowded condition of the calendars in both houses create an
1-22     emergency and an imperative public necessity that the
1-23     constitutional rule requiring bills to be read on three several
1-24     days in each house be suspended, and this rule is hereby suspended,
 2-1     and that this Act take effect and be in force from and after its
 2-2     passage, and it is so enacted.