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Texas Business & Commerce Code

§ 9.803 — SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE

BC § 9.803Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. H. TRANSITION PROVISIONS FOR 2013 AMENDMENTS

Statute text

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(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 by the 2013 amendments, if, when the 2013 amendments take effect, the applicable requirements for attachment and perfection under this chapter, as amended by the 2013 amendments, are satisfied without further action.
(b)Except as otherwise provided in Section 9.805, if, immediately before July 1, 2013, a security interest is a perfected security interest, but the applicable requirements for perfection under this chapter, as amended by the 2013 amendments, are not satisfied when the 2013 amendments take effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under this chapter, as amended by the 2013 amendments, are satisfied within one year after the 2013 amendments take effect.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 67 (S.B. 782), Sec. 18, eff. July 1, 2013.

Source: Texas Business & Commerce Code § 9.803 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.