Texas Business & Commerce Code

§ 261.004 — FILING UTILITY SECURITY INSTRUMENT WITH SECRETARY OF STATE: PERFECTION AND NOTICE

BC § 261.004Title 8. SECURITY INSTRUMENTS · Ch. 261. UTILITY SECURITY INSTRUMENTS

Statute text

(a)Subject to Subsection (b), the filing with the secretary of state of a utility security instrument executed by a utility and described by Section 261.003(1) and payment of the filing fee prescribed by Section 261.008:

(1)constitute perfection of a security interest created by the instrument in any personal property:

(A)in which a security interest may be perfected by filing under Chapter 9, including any goods that are or will become a fixture;

(B)that is located in this state; and

(C)that was owned by the utility when the instrument was executed or is to be acquired by the utility after the instrument is executed;

(2)if the instrument is proven, acknowledged, or certified as otherwise required by law for the recording of real property mortgages, serve as notice to all persons of the existence of the instrument and the security interest granted by the instrument in any real property, or in any fixture on or to be placed on the property, that:

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Legislative history

Acts 2009, 81st Leg., R.S., Ch. 814 (S.B. 1592), Sec. 1, eff. June 19, 2009.