81st Texas Legislature, Senate Bill 1592, Chapter 814 Page: 1 of 8
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S.B. No. 1592
1 AN ACT
2 relating to the assignment of security interests in certain
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Subsection (a), Section 261.004, Business &
6 Commerce Code, is amended to read as follows:
7 (a) Subject to Subsection (b), the filing with the secretary
8 of state of a utility security instrument executed by a utility and
9 described by Section 261.003(1) and payment of the filing fee
10 prescribed by Section 261.008:
11 (1) constitute perfection of a security interest
12 created by the instrument in any personal property:
13 (A) in which a security interest may be perfected
14 by filing under Chapter 9, including any goods that are or will
15 become a fixture;
16 (B) that is located in this state; and
17 (C) that was owned by the utility when the
18 instrument was executed or is to be acquired by the utility after
19 the instrument is executed; [e*4]
20 (2) if the instrument is proven, acknowledged, or
21 certified as otherwise required by law for the recording of real
22 property mortgages, serve as notice to all persons of the existence
23 of the instrument and the security interest granted by the
24 instrument in any real property, or in any fixture on or to be
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Texas. Legislature. Senate. 81st Texas Legislature, Senate Bill 1592, Chapter 814, legislative document, June 19, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth149400/m1/1/: accessed September 21, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.