1-1 By: Wentworth S.B. No. 648 1-2 (In the Senate - Filed February 23, 1999; February 24, 1999, 1-3 read first time and referred to Committee on Economic Development; 1-4 April 6, 1999, reported adversely, with favorable Committee 1-5 Substitute by the following vote: Yeas 5, Nays 0; April 6, 1999, 1-6 sent to printer.) 1-7 COMMITTEE SUBSTITUTE FOR S.B. No. 648 By: Carona 1-8 A BILL TO BE ENTITLED 1-9 AN ACT 1-10 relating to the specification of venue for actions arising from 1-11 certain major transactions. 1-12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-13 SECTION 1. Subchapter B, Chapter 15, Civil Practice and 1-14 Remedies Code, is amended by adding Section 15.020 to read as 1-15 follows: 1-16 Sec. 15.020. MAJOR TRANSACTIONS: SPECIFICATION OF VENUE BY 1-17 AGREEMENT. (a) In this section, "major transaction" means one 1-18 transaction or a series of transactions under which a person pays 1-19 or receives, or is obligated to pay or entitled to receive, 1-20 consideration with an aggregate value equal to or greater than $1 1-21 million. The term does not include a transaction or series of 1-22 transactions entered into primarily for personal, family, or 1-23 household purposes, or to settle a personal injury or wrongful 1-24 death claim, without regard to the aggregate value. 1-25 (b) An action arising from a major transaction shall be 1-26 brought in a county if the party against whom the action is brought 1-27 has agreed in writing that a suit arising from the transaction may 1-28 be brought in that county. 1-29 (c) Notwithstanding any other provision of this title, an 1-30 action arising from a major transaction may not be brought in a 1-31 county if: 1-32 (1) the party bringing the action has agreed in 1-33 writing that an action arising from the transaction may not be 1-34 brought in that county, and the action may be brought in another 1-35 county of this state or in another jurisdiction; or 1-36 (2) the party bringing the action has agreed in 1-37 writing that an action arising from the transaction must be brought 1-38 in another county of this state or in another jurisdiction, and the 1-39 action may be brought in that other county, under this section or 1-40 otherwise, or in that other jurisdiction. 1-41 (d) This section does not apply to an action if: 1-42 (1) the agreement described by this section was 1-43 unconscionable at the time that it was made; 1-44 (2) the agreement regarding venue is voidable under 1-45 Section 35.52, Business & Commerce Code; or 1-46 (3) venue is established under a statute of this state 1-47 other than this title. 1-48 (e) This section does not affect venue and jurisdiction in 1-49 an action arising from a transaction that is not a major 1-50 transaction. 1-51 SECTION 2. This Act applies only to a cause of action 1-52 accruing on or after the effective date of this Act, without regard 1-53 to whether an agreement relating to the venue of the action was 1-54 made before, on, or after the effective date of this Act. A cause 1-55 of action accruing before the effective date of this Act is 1-56 governed by the law in effect at the time the cause of action 1-57 accrued, and that law is continued in effect for that purpose. 1-58 * * * * *