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