Sec. 1158.104. SALE ON CREDIT. (a) Estate personal property may not be sold on credit at public auction for a term of more than six months from the date of sale.
(b) Estate personal property purchased on credit at public auction may not be delivered to the purchaser until the purchaser gives a note for the amount due, with good and solvent personal security. The requirement that security be provided may be waived if the property will not be delivered until the note, with interest, has been paid.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Section: Previous 1158.001 1158.051 1158.101 1158.102 1158.103 1158.104 1158.105 1158.151 1158.152 1158.153 1158.154 1158.155 1158.201 1158.202 1158.203 NextLast modified: September 28, 2016