| 1 | 1 | | 88R49 SRA-D |
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| 2 | 2 | | By: Parker S.B. No. 925 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the use of blockchain technology for financing |
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| 8 | 8 | | statements and related records filed with the secretary of state. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter E, Chapter 9, Business & Commerce |
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| 11 | 11 | | Code, is amended by adding Section 9.5265 to read as follows: |
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| 12 | 12 | | Sec. 9.5265. ELECTRONIC FILING TECHNOLOGY. The Secretary |
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| 13 | 13 | | of State may use blockchain technology for the purposes of |
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| 14 | 14 | | accepting and storing electronic financing statements and other |
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| 15 | 15 | | records filed with the filing office under this subchapter. |
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| 16 | 16 | | SECTION 2. This Act takes effect immediately if it receives |
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| 17 | 17 | | a vote of two-thirds of all the members elected to each house, as |
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| 18 | 18 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 19 | 19 | | Act does not receive the vote necessary for immediate effect, this |
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| 20 | 20 | | Act takes effect September 1, 2023. |
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