Sec. 15.020. MAJOR TRANSACTIONS: SPECIFICATION OF VENUE BY AGREEMENT. (a) In this section, "major transaction" means a transaction evidenced by a written agreement under which a person pays or receives, or is obligated to pay or entitled to receive, consideration with an aggregate stated value equal to or greater than $1 million. The term does not include a transaction entered into primarily for personal, family, or household purposes, or to settle a personal injury or wrongful death claim, without regard to the aggregate value.
(b) An action arising from a major transaction shall be brought in a county if the party against whom the action is brought has agreed in writing that a suit arising from the transaction may be brought in that county.
(c) Notwithstanding any other provision of this title, an action arising from a major transaction may not be brought in a county if:
(1) the party bringing the action has agreed in writing that an action arising from the transaction may not be brought in that county, and the action may be brought in another county of this state or in another jurisdiction; or
(2) the party bringing the action has agreed in writing that an action arising from the transaction must be brought in another county of this state or in another jurisdiction, and the action may be brought in that other county, under this section or otherwise, or in that other jurisdiction.
(d) This section does not apply to an action if:
(1) the agreement described by this section was unconscionable at the time that it was made;
(2) the agreement regarding venue is voidable under Chapter 272, Business & Commerce Code; or
(3) venue is established under a statute of this state other than this title.
(e) This section does not affect venue and jurisdiction in an action arising from a transaction that is not a major transaction.
Added by Acts 1999, 76th Leg., ch. 84, Sec. 1, eff. Aug. 30, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.10, eff. April 1, 2009.
Last modified: September 28, 2016