Sec. 4.053. CONDITIONS FOR DELAYED EFFECTIVENESS. (a) The date and time at which a filing instrument takes effect is delayed if the instrument clearly and expressly states, in addition to any other required statement or information:
(1) the specific date and time at which the instrument takes effect; or
(2) if the instrument takes effect on the occurrence of a future event or fact that may occur:
(A) the manner in which the event or fact will cause the instrument to take effect; and
(B) the date of the 90th day after the date the instrument is signed.
(b) If a filing instrument is to take effect on a specific date and time other than that provided by this code:
(1) the date may not be later than the 90th day after the date the instrument is signed; and
(2) the specific time at which the instrument is to take effect may not be specified as "12:00 a.m." or "12:00 p.m."
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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