TITLE: Relating to marketing contracts and agricultural liens.

SUMMARY: Relating to marketing contracts and agricultural liens.

FULL TEXT:
AN ACT relating to marketing contracts and agricultural liens. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 70.4045(c), Property Code, is amended to read as follows: (c) Notwithstanding Chapter 9, Business & Commerce Code, a lien created and perfected under this subchapter has priority over a conflicting security interest in or lien on the agricultural crop or the proceeds from the sale of the crop created by the contract purchaser in favor of a third party, [other than a cotton ginner's lien created under Section 70.003(d)] regardless of the date the security interest or lien created by the contract purchaser attached. This subsection does not:[affect a security interest or lien created and perfected to secure a loan directly to the agricultural producer.] (1) affect the validity or priority of a security interest or lien created and perfected to secure a loan directly to the agricultural producer; (2) affect the validity or priority of a cotton ginner's lien created under Section 70.003(d); (3) apply to a contract purchaser who purchases an agricultural crop from an agricultural producer pursuant to a marketing contract created under Section 52.016, Agriculture Code, or under Title 7, USC (specifically Chapter 35A, Subchapter I,   1421, and Subchapter II,   1441, and Chapter 106, Subchapter II,   7931-7939) and Title 15, Chapter 15, Subchapter II, USC (statutes relating to the Commodity Credit Corporation, and specifically   714b, 714c, and 714j). SECTION 2. This Act takes effect September 1, 2017.