Texas Business And Commerce Code Title 1, Chapter 9 - Secured Transactions

SUBCHAPTER A SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS

• Texas Section 9.101 - Short Title
  This chapter may be cited as Uniform Commercial Code--Secured Transactions. Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
• Texas Section 9.102 - Definitions And Index Of Definitions
  (a) In this chapter: (1) "Accession" means goods that are physically united with other goods in such a manner that the identity of the original...
• Texas Section 9.103 - Purchase-money Security Interest; Application Of Payments; Burden Of Establishing
  (a) In this section: (1) "Purchase-money collateral" means goods or software that secures a purchase-money obligation incurred with respect to that collateral. (2) "Purchase-money obligation"...
• Texas Section 9.104 - Control Of Deposit Account
  (a) A secured party has control of a deposit account if: (1) the secured party is the bank with which the deposit account is maintained;...
• Texas Section 9.105 - Control Of Electronic Chattel Paper
  (a) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably...
• Texas Section 9.106 - Control Of Investment Property
  (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8.106. (b) A secured party has control...
• Texas Section 9.107 - Control Of Letter-of-credit Right
  A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated...
• Texas Section 9.108 - Sufficiency Of Description
  (a) Except as otherwise provided in Subsections (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is...
• Texas Section 9.109 - Scope
  (a) Except as otherwise provided in Subsections (c), (d), and (e), this chapter applies to: (1) a transaction, regardless of its form, that creates a...

SUBCHAPTER B EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT

• Texas Section 9.110 - Security Interests Arising Under Chapter 2 Or 2a
  A security interest arising under Section 2.401, 2.505, 2.711(c), or 2A.508(e) is subject to this chapter. However, until the debtor obtains possession of the goods:...
• Texas Section 9.201 - General Effectiveness Of Security Agreement
  (a) Except as otherwise provided by this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral,...
• Texas Section 9.202 - Title To Collateral Immaterial
  Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this chapter with...
• Texas Section 9.203 - Attachment And Enforceability Of Security Interest; Proceeds; Supporting Obligations; Formal Requisites
  (a) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the...
• Texas Section 9.204 - After-acquired Property; Future Advances
  (a) Except as provided in Subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral. (b) A security interest...
• Texas Section 9.205 - Use Or Disposition Of Collateral Permissible
  (a) A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle,...
• Texas Section 9.206 - Security Interest Arising In Purchase Or Delivery Of Financial Asset
  (a) A security interest in favor of a securities intermediary attaches to a person's security entitlement if: (1) the person buys a financial asset through...
• Texas Section 9.207 - Rights And Duties Of Secured Party Having Possession Or Control Of Collateral
  (a) Except as otherwise provided in Subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured...
• Texas Section 9.208 - Additional Duties Of Secured Party Having Control Of Collateral
  (a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur...
• Texas Section 9.209 - Duties Of Secured Party If Account Debtor Has Been Notified Of Assignment
  (a) Except as otherwise provided in Subsection (c), this section applies if: (1) there is no outstanding secured obligation; and (2) the secured party is...

SUBCHAPTER C PERFECTION AND PRIORITY

• Texas Section 9.210 - Request For Accounting; Request Regarding List Of Collateral Or Statement Of Account
  (a) In this section: (1) "Request" means a record of a type described in Subdivision (2), (3), or (4). (2) "Request for an accounting" means...
• Texas Section 9.301 - Law Governing Perfection And Priority Of Security Interests
  Except as otherwise provided in Sections 9.303 through 9.306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the...
• Texas Section 9.302 - Law Governing Perfection And Priority Of Agricultural Liens
  While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority...
• Texas Section 9.303 - Law Governing Perfection And Priority Of Security Interests In Goods Covered By A Certificate Of Title
  (a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate...
• Texas Section 9.304 - Law Governing Perfection And Priority Of Security Interests In Deposit Accounts
  (a) The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a...
• Texas Section 9.305 - Law Governing Perfection And Priority Of Security Interests In Investment Property
  (a) Except as otherwise provided in Subsection (c), the following rules apply: (1) While a security certificate is located in a jurisdiction, the local law...
• Texas Section 9.306 - Law Governing Perfection And Priority Of Security Interests In Letter-of-credit Rights
  (a) Subject to Subsection (c), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection,...
• Texas Section 9.307 - Location Of Debtor
  (a) In this section, "place of business" means a place where a debtor conducts its affairs. (b) Except as otherwise provided in this section, the...
• Texas Section 9.308 - When Security Interest Or Agricultural Lien Is Perfected; Continuity Of Perfection
  (a) Except as otherwise provided in this section and Section 9.309, a security interest is perfected if it has attached and all of the applicable...
• Texas Section 9.309 - Security Interest Perfected Upon Attachment
  The following security interests are perfected when they attach: (1) a purchase money security interest in consumer goods, except as otherwise provided in Section 9.311(b)...
• Texas Section 9.310 - When Filing Required To Perfect Security Interest Or Agricultural Lien; Security Interests And Agricultural Liens To Which Filing Provisions Do Not Apply
  (a) Except as otherwise provided in Subsection (b) and Section 9.312(b), a financing statement must be filed to perfect all security interests and agricultural liens....
• Texas Section 9.311 - Perfection Of Security Interests In Property Subject To Certain Statutes, Regulations, And Treaties
  (a) Except as otherwise provided in Subsection (d), the filing of a financing statement is not necessary or effective to perfect a security interest in...
• Texas Section 9.312 - Perfection Of Security Interests In Chattel Paper, Deposit Accounts, Documents, And Goods Covered By Documents, Instruments, Investment Property, Letter-of-credit Rights, And Money; Perfection By Permissive Filing; Temporary Perfection Without Filing Or Transfer Of Possession
  (a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (b) Except as otherwise provided in Sections...
• Texas Section 9.313 - When Possession By Or Delivery To Secured Party Perfects Security Interest Without Filing
  (a) Except as otherwise provided in Subsection (b), a secured party may perfect a security interest in tangible negotiable documents, goods, instruments, money, or tangible...
• Texas Section 9.314 - Perfection By Control
  (a) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral...
• Texas Section 9.315 - Secured Party's Rights On Disposition Of Collateral And In Proceeds
  (a) Except as otherwise provided in this chapter and Section 2.403(b): (1) a security interest or agricultural lien continues in collateral notwithstanding sale, lease, license,...
• Texas Section 9.316 - Effect Of Change In Governing Law
  (a) A security interest perfected pursuant to the law of the jurisdiction designated in Section 9.301(1) or 9.305(c) remains perfected until the earliest of: (1)...
• Texas Section 9.317 - Interests That Take Priority Over Or Take Free Of Security Interest Or Agricultural Lien
  (a) A security interest or agricultural lien is subordinate to the rights of: (1) a person entitled to priority under Section 9.322; and (2) except...
• Texas Section 9.318 - No Interest Retained In Right To Payment That Is Sold; Rights And Title Of Seller Of Account Or Chattel Paper With Respect To Creditors And Purchasers
  (a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the...
• Texas Section 9.319 - Rights And Title Of Consignee With Respect To Creditors And Purchasers
  (a) Except as otherwise provided in Subsection (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a...
• Texas Section 9.320 - Buyers Of Goods
  (a) Except as otherwise provided by Subsection (e), a buyer in ordinary course of business, other than a person buying farm products from a person...
• Texas Section 9.321 - Licensee Of General Intangible And Lessee Of Goods In Ordinary Course Of Business
  (a) In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without...
• Texas Section 9.322 - Priorities Among Conflicting Security Interests In And Agricultural Liens On Same Collateral
  (a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the...
• Texas Section 9.323 - Future Advances
  (a) Except as otherwise provided in Subsection (c), for purposes of determining the priority of a perfected security interest under Section 9.322(a)(1), perfection of the...
• Texas Section 9.324 - Priority Of Purchase-money Security Interests
  (a) Except as otherwise provided in Subsection (g), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting...
• Texas Section 9.325 - Priority Of Security Interests In Transferred Collateral
  (a) Except as otherwise provided in Subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral...
• Texas Section 9.326 - Priority Of Security Interests Created By New Debtor
  (a) Subject to Subsection (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires...
• Texas Section 9.327 - Priority Of Security Interests In Deposit Account
  The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control...
• Texas Section 9.328 - Priority Of Security Interests In Investment Property
  The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party having control...
• Texas Section 9.329 - Priority Of Security Interests In Letter-of-credit Right
  The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1) A security interest held by a secured party having control...
• Texas Section 9.330 - Priority Of Purchaser Of Chattel Paper Or Instrument
  (a) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory subject...
• Texas Section 9.331 - Priority Of Rights Of Purchasers Of Instruments, Documents, And Securities Under Other Chapters; Priority Of Interests In Financial Assets And Security Entitlements Under Chapter 8
  (a) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document...
• Texas Section 9.332 - Transfer Of Money; Transfer Of Funds From Deposit Account
  (a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the...
• Texas Section 9.333 - Priority Of Certain Liens Arising By Operation Of Law
  (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) that secures payment or performance of...
• Texas Section 9.334 - Priority Of Security Interests In Fixtures And Crops
  (a) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A security...
• Texas Section 9.335 - Accessions
  (a) A security interest may be created in an accession and continues in collateral that becomes an accession. (b) If a security interest is perfected...
• Texas Section 9.336 - Commingled Goods
  (a) In this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in...
• Texas Section 9.337 - Priority Of Security Interests In Goods Covered By Certificate Of Title
  If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title...
• Texas Section 9.338 - Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information
  If a security interest or agricultural lien is perfected by a filed financing statement providing information described in Section 9.516(b)(5) that is incorrect at the...
• Texas Section 9.339 - Priority Subject To Subordination
  This chapter does not preclude subordination by agreement by a person entitled to priority. Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff....
• Texas Section 9.340 - Effectiveness Of Right Of Recoupment Or Set-off Against Deposit Account
  (a) Except as otherwise provided in Subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off...
• Texas Section 9.341 - Bank's Rights And Duties With Respect To Deposit Account
  Except as otherwise provided in Section 9.340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to...
• Texas Section 9.342 - Bank's Right To Refuse To Enter Into Or Disclose Existence Of Control Agreement
  This chapter does not require a bank to enter into an agreement of the kind described in Section 9.104(a)(2), even if its customer so requests...

SUBCHAPTER D RIGHTS OF THIRD PARTIES

• Texas Section 9.343 - Oil And Gas Interests: Security Interest Perfected Without Filing; Statutory Lien
  (a) This section provides a security interest in favor of interest owners, as secured parties, to secure the obligations of the first purchaser of oil...
• Texas Section 9.401 - Alienability Of Debtor's Rights
  (a) Except as otherwise provided in Subsection (b) and Sections 9.406, 9.407, 9.408, and 9.409, whether a debtor's rights in collateral may be voluntarily or...
• Texas Section 9.402 - Secured Party Not Obligated On Contract Of Debtor Or In Tort
  The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject...
• Texas Section 9.403 - Agreement Not To Assert Defenses Against Assignee
  (a) In this section, "value" has the meaning provided in Section 3.303(a). (b) Except as otherwise provided in this section, an agreement between an account...
• Texas Section 9.404 - Rights Acquired By Assignee; Claims And Defenses Against Assignee
  (a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to Subsections (b)-(e), the rights of an...
• Texas Section 9.405 - Modification Of Assigned Contract
  (a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights...
• Texas Section 9.406 - Discharge Of Account Debtor; Notification Of Assignment; Identification And Proof Of Assignment; Restrictions On Assignment Of Accounts, Chattel Paper, Payment Intangibles, And Promissory Notes Ineffective
  (a) Subject to Subsections (b)-(i), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor...
• Texas Section 9.407 - Restrictions On Creation Or Enforcement Of Security Interest In Leasehold Interest Or In Lessor's Residual Interest
  (a) Except as otherwise provided in Subsection (b), a term in a lease agreement is ineffective to the extent that it: (1) prohibits, restricts, or...
• Texas Section 9.408 - Restrictions On Assignment Of Promissory Notes, Health-care-insurance Receivables, And Certain General Intangibles Ineffective
  (a) Except as otherwise provided in Subsection (b), a term in a promissory note or in an agreement between an account debtor and a debtor...

SUBCHAPTER E FILING

• Texas Section 9.409 - Restrictions On Assignment Of Letter-of-credit Rights Ineffective
  (a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit that...
• Texas Section 9.501 - Filing Office
  (a) Except as otherwise provided in Subsection (b), if the local law of this state governs perfection of a security interest or agricultural lien, the...
• Texas Section 9.502 - Contents Of Financing Statement; Record Of Mortgage As Financing Statement; Time Of Filing Financing Statement
  (a) Subject to Subsection (b), a financing statement is sufficient only if it: (1) provides the name of the debtor; (2) provides the name of...
• Texas Section 9.503 - Name Of Debtor And Secured Party
  (a) A financing statement sufficiently provides the name of the debtor: (1) except as otherwise provided in Subdivision (3), if the debtor is a registered...
• Texas Section 9.504 - Indication Of Collateral
  A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) a description of the collateral pursuant to Section 9.108;...
• Texas Section 9.505 - Filing And Compliance With Other Statutes And Treaties For Consignments, Leases, Other Bailments, And Other Transactions
  (a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing...
• Texas Section 9.506 - Effect Of Errors Or Omissions
  (a) A financing statement substantially satisfying the requirements of this subchapter is effective, even if it has minor errors or omissions, unless the errors or...
• Texas Section 9.507 - Effect Of Certain Events On Effectiveness Of Financing Statement
  (a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a...
• Texas Section 9.508 - Effectiveness Of Financing Statement If New Debtor Becomes Bound By Security Agreement
  (a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral...
• Texas Section 9.509 - Persons Entitled To File A Record
  (a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to...
• Texas Section 9.510 - Effectiveness Of Filed Record
  (a) A filed record is effective only to the extent that it was filed by a person that may file it under Section 9.509. (b)...
• Texas Section 9.511 - Secured Party Of Record
  (a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured...
• Texas Section 9.512 - Amendment Of Financing Statement
  (a) Subject to Section 9.509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to Subsection (e),...
• Texas Section 9.513 - Termination Statement
  (a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if...
• Texas Section 9.514 - Assignment Of Powers Of Secured Party Of Record
  (a) Except as otherwise provided in Subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize...
• Texas Section 9.515 - Duration And Effectiveness Of Financing Statement; Effect Of Lapsed Financing Statement
  (a) Except as otherwise provided in Subsections (b)-(g), a filed financing statement is effective for a period of five years after the date of filing....
• Texas Section 9.516 - What Constitutes Filing; Effectiveness Of Filing
  (a) Except as otherwise provided in Subsection (b), communication of a record to a filing office and tender of the filing fee or acceptance of...
• Texas Section 9.517 - Effect Of Indexing Errors
  The failure of the filing office to index a record or to correctly index information contained in a record does not affect the effectiveness of...
• Texas Section 9.518 - Claim Concerning Inaccurate Or Wrongfully Filed Record
  (a) Any person named as a debtor or a secured party may file an information statement with respect to a record if the person believes...
• Texas Section 9.5185 - Fraudulent Filing
  (a) A person may not intentionally or knowingly present for filing or cause to be presented for filing a financing statement that the person knows:...
• Texas Section 9.519 - Numbering, Maintaining, And Indexing Records; Communicating Information Provided In Records
  (a) For each record filed in a filing office, the filing office shall: (1) assign a unique number to the filed record; (2) create a...
• Texas Section 9.520 - Acceptance And Refusal To Accept Record
  (a) A filing office shall refuse to accept a record for filing for a reason set forth in Section 9.516(b) and may refuse to accept...
• Texas Section 9.5211 - Uniform Form Of Written Financing Statement And Amendment
  (a) Except as provided by Section 9.516(b), a filing office that accepts written records may not refuse to accept a written initial financing statement on...
• Texas Section 9.522 - Maintenance And Destruction Of Records
  (a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness...
• Texas Section 9.523 - Information From Filing Office; Sale Or License Of Records
  (a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image...
• Texas Section 9.524 - Delay By Filing Office
  Delay by the filing office beyond a time limit prescribed by this subchapter is excused if: (1) the delay is caused by interruption of communication...
• Texas Section 9.525 - Fees
  (a) Except as otherwise provided in Subsections (b), (e), and (f), the fee for filing and indexing a record under this subchapter is: (1) $15...
• Texas Section 9.526 - Filing-office Rules
  (a) The Secretary of State shall adopt and publish rules to implement this chapter. The filing-office rules must be consistent with this chapter. (b) To...

SUBCHAPTER F DEFAULT

• Texas Section 9.527 - Duty To Report
  The Secretary of State shall report before January 1 of each odd-numbered year to the Legislature on the operation of the filing office. The report...
• Texas Section 9.601 - Rights After Default; Judicial Enforcement; Consignor Or Buyer Of Accounts, Chattel Paper, Payment Intangibles, Or Promissory Notes
  (a) After default, a secured party has the rights provided in this subchapter and, except as otherwise provided in Section 9.602, those provided by agreement...
• Texas Section 9.602 - Waiver And Variance Of Rights And Duties
  Except as otherwise provided in Section 9.624, to the extent that they give rights to a debtor or obligor and impose duties on a secured...
• Texas Section 9.603 - Agreement On Standards Concerning Rights And Duties
  (a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a...
• Texas Section 9.604 - Procedure If Security Agreement Covers Real Property Or Fixtures
  (a) If a security agreement covers both personal and real property, a secured party may proceed: (1) under this subchapter as to the personal property...
• Texas Section 9.605 - Unknown Debtor Or Secondary Obligor
  A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor,...
• Texas Section 9.606 - Time Of Default For Agricultural Lien
  For purposes of this subchapter, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the...
• Texas Section 9.607 - Collection And Enforcement By Secured Party
  (a) If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on collateral...
• Texas Section 9.608 - Application Of Proceeds Of Collection Or Enforcement; Liability For Deficiency And Right To Surplus
  (a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply...
• Texas Section 9.609 - Secured Party's Right To Take Possession After Default
  (a) After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral...
• Texas Section 9.610 - Disposition Of Collateral After Default
  (a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or...
• Texas Section 9.611 - Notification Before Disposition Of Collateral
  (a) In this section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary...
• Texas Section 9.612 - Timeliness Of Notification Before Disposition Of Collateral
  (a) Except as otherwise provided in Subsection (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a...
• Texas Section 9.613 - Contents And Form Of Notification Before Disposition Of Collateral: General
  Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: (A) describes the...
• Texas Section 9.614 - Contents And Form Of Notification Before Disposition Of Collateral: Consumer-goods Transaction
  In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: (A) the information specified in Section 9.613(1);...
• Texas Section 9.615 - Application Of Proceeds Of Disposition; Liability For Deficiency And Right To Surplus
  (a) A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9.610 in the following order to: (1)...
• Texas Section 9.616 - Explanation Of Calculation Of Surplus Or Deficiency
  (a) In this section: (1) "Explanation" means a writing that: (A) states the amount of the surplus or deficiency; (B) provides an explanation in accordance...
• Texas Section 9.617 - Rights Of Transferee Of Collateral
  (a) A secured party's disposition of collateral after default: (1) transfers to a transferee for value all of the debtor's rights in the collateral; (2)...
• Texas Section 9.618 - Rights And Duties Of Certain Secondary Obligors
  (a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives an...
• Texas Section 9.619 - Transfer Of Record Or Legal Title
  (a) In this section, "transfer statement" means a record authenticated by a secured party stating: (1) that the debtor has defaulted in connection with an...
• Texas Section 9.620 - Acceptance Of Collateral In Full Or Partial Satisfaction Of Obligation; Compulsory Disposition Of Collateral
  (a) Except as otherwise provided in Subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only...
• Texas Section 9.621 - Notification Of Proposal To Accept Collateral
  (a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1)...
• Texas Section 9.622 - Effect Of Acceptance Of Collateral
  (a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) discharges the obligation to the extent consented...
• Texas Section 9.623 - Right To Redeem Collateral
  (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall tender: (1)...
• Texas Section 9.624 - Waiver
  (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 9.611 only by an agreement to that...
• Texas Section 9.625 - Remedies For Secured Party's Failure To Comply With Chapter
  (a) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement,...
• Texas Section 9.626 - Action In Which Deficiency Or Surplus Is In Issue
  (a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue,...
• Texas Section 9.627 - Determination Of Whether Conduct Was Commercially Reasonable
  (a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a...

SUBCHAPTER G TRANSITION PROVISIONS

• Texas Section 9.628 - Nonliability And Limitation On Liability Of Secured Party; Liability Of Secondary Obligor
  (a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate...
• Texas Section 9.701 - Effective Date Of Revisions
  (a) In this subchapter, "revision" means the revision of this chapter enacted by the 76th Legislature, Regular Session, 1999. (b) The revision takes effect July...
• Texas Section 9.702 - Saving Clause
  (a) Except as otherwise provided in this subchapter, this chapter, as revised, applies to a transaction or lien within its scope, even if the transaction...
• Texas Section 9.703 - Security Interest Perfected Before Effective Date
  (a) A security interest that is enforceable immediately before the effective date of the revision and would have priority over the rights of a person...
• Texas Section 9.704 - Security Interest Unperfected Before Effective Date
  A security interest that is enforceable immediately before the revision takes effect but that would be subordinate to the rights of a person that becomes...
• Texas Section 9.705 - Effectiveness Of Action Taken Before Effective Date
  (a) If action, other than the filing of a financing statement, is taken before the revision takes effect and the action would have resulted in...
• Texas Section 9.706 - When Initial Financing Statement Suffices To Continue Effectiveness Of Financing Statement
  (a) The filing of an initial financing statement in the office specified in Section 9.501, as revised, continues the effectiveness of a financing statement filed...
• Texas Section 9.707 - Amendment Of Pre-effective-date Financing Statement
  (a) In this section, "pre-effective-date financing statement" means a financing statement filed before the revision takes effect. (b) After the revision takes effect, a person...
• Texas Section 9.708 - Persons Entitled To File Initial Financing Statement Or Continuation Statement
  A person may file an initial financing statement or a continuation statement under this subchapter if: (1) the secured party of record authorizes the filing;...

SUBCHAPTER H TRANSITION PROVISIONS FOR 2013 AMENDMENTS

• Texas Section 9.709 - Priority
  (a) This chapter, as revised, determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before the...
• Texas Section 9.801 - Effective Date Of Amendments
  (a) In this subchapter, "2013 amendments" means the amendments to this chapter enacted by the Act of the 82nd Legislature, Regular Session, 2011, that enacted...
• Texas Section 9.802 - Saving Clause
  (a) Except as otherwise provided in this subchapter, the 2013 amendments apply to a transaction or lien within its scope, even if the transaction or...
• Texas Section 9.803 - Security Interest Perfected Before Effective Date
  (a) A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this chapter, as amended...
• Texas Section 9.804 - Security Interest Unperfected Before Effective Date
  A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest: (1) without further action, when the...
• Texas Section 9.805 - Effectiveness Of Action Taken Before Effective Date
  (a) The filing of a financing statement before the 2013 amendments take effect is effective to perfect a security interest to the extent the filing...
• Texas Section 9.806 - When Initial Financing Statement Suffices To Continue Effectiveness Of Financing Statement
  (a) The filing of an initial financing statement in the office specified in Section 9.501 continues the effectiveness of a financing statement filed before July...
• Texas Section 9.807 - Amendment Of Pre-effective-date Financing Statement
  (a) In this section, "pre-effective-date financing statement" means a financing statement filed before July 1, 2013. (b) After the 2013 amendments take effect, a person...
• Texas Section 9.808 - Person Entitled To File Initial Financing Statement Or Continuation Statement
  A person may file an initial financing statement or a continuation statement under this subchapter if: (1) the secured party of record authorizes the filing;...
• Texas Section 9.809 - Priority
  The 2013 amendments determine the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013,...

Last modified: September 28, 2016