The Laws of Texas, 1934-1935 [Volume 29] Page: 297 of 2,086
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FORTY-THIRD LEGISLATURE-THIRD CALLED SESSION. 43
the offenses herein enumerated, create an emergency and an
imperative public necessity that the Constitutional Rule requiring
bills to be read on three several days be, and said Rule is
hereby suspended, and this Act shall take effect and be in force
from and after its passage, and it is so enacted.
[NOTE.-H. B. No. 70 passed the House, September 18, 1934,
by a vote of 109 yeas, 0 nays; passed the Senate, September 19,
1934, by a vote of 29 yeas, 0 nays.]
Approved September 22, 1934.
Effective September 22, 1934.
RELATING TO RECEIVERS AND RECEIVERSHIPS
AND THE PROCEEDINGS THEREIN
S. B. No. 11.] CHAPTER 24.
An Act amending Title 42, Chapter 13, Part 2, Revised Civil Statutes 1925,
with reference to receivers and receiverships by adding thereto the following
Article, to be known as Article 2320-a, authorizing proceedings
by persons defined herein in the relief of debtors and providing for
reorganization and readjustment of their indebtedness and affairs, providing
the method, means and manner thereof and for proceedings in
furtherance and aid thereof and for the adjudication of the rights of
parties affected; prescribing jurisdiction and the power and authority of
judges and courts in the premises to protect the assets of such debtors
and to safeguard and insure the continuation of the business of such
debtors to the end that they shall continue to provide employment for
labor and to encourage the orderly and economical administration of the
affairs of such debtors, and providing generally for the relief of distressed
debtors, and declaring an emergency.
Be it enacted by the Legislature of the State of Texas:
SECTION 1. Declaration of Policy.-It is hereby found, determined,
and declared that a public emergency exists caused
by increasing financial difficulties of many persons, including
individuals, partnerships, and corporations chartered under the
laws of this State, which renders it imperative that the Legislature
exercise the power vested in it under such circumstances
and enact proper legislation providing for the reorganization of
such corporations and the readjustment of structures and indebtedness,
as well as the affairs and businesses of others, so
as to relieve such emergency, and this Act may be referred to
as "Act for the Reorganization of Distressed Debtors."
SEC. 2. That Title 42, Chapter 13, Revised Civil Statutes
1925, as amended, with reference to receivers and receiverships,
be, and the same is hereby, amended by adding thereto Article
2320-a, to read as follows:
"Art. 2320-a. The District Courts of this State having civil
jurisdiction shall, in addition to and cumulative of the jurisdic-
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1934-1935 [Volume 29], book, 1935; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth17292/m1/297/: accessed March 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .