Sec. 14A.009. COTTON UNDER LIEN. A person who buys, sells, or deals with cotton on which a lien or encumbrance exists is not liable for conversion of the cotton if:
(1) the cotton is stored in a warehouse or is evidenced by a negotiable warehouse receipt issued by a public warehouse operator; and
(2) the person did not have actual knowledge of the lien or encumbrance at the time of the alleged conversion.
Renumbered from Sec. 14.211 and amended by Acts 2001, 77th Leg., ch. 1124, Sec. 1, eff. Sept. 1, 2001.
Section: Previous 14A.001 14A.002 14A.003 14A.004 14A.005 14A.006 14A.007 14A.008 14A.009 14A.010 14A.011 14A.012 NextLast modified: September 28, 2016