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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of blockchain technology for financing |
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statements and related records filed with the secretary of state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter 9, Business & Commerce |
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Code, is amended by adding Section 9.5265 to read as follows: |
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Sec. 9.5265. ELECTRONIC FILING TECHNOLOGY. The Secretary |
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of State may use blockchain technology for the purposes of |
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accepting and storing electronic financing statements and other |
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records filed with the filing office under this subchapter. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2023. |