Bill Text: TX SB925 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the use of blockchain technology for financing statements and related records filed with the secretary of state.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-03 - Referred to Business & Commerce [SB925 Detail]
Download: Texas-2023-SB925-Introduced.html
| 88R49 SRA-D | ||
| By: Parker | S.B. No. 925 | |
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| 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. | ||
