reglab/statecodes huggingface dataset:
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter D. Rights of Third Parties › Section 9.407. Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest

Sec. 9.407.  RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN LEASEHOLD INTEREST OR IN LESSOR'S RESIDUAL INTEREST.  (a)  Except as otherwise provided in Subsection (b), a term in a lease agreement is ineffective to the extent that it:
(1)  prohibits, restricts, or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, an interest of a party under the lease contract or in the lessor's residual interest in the goods;  or
(2)  provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the lease.
(b)  Except as otherwise provided in Section 2A.303(g), a term described in Subsection (a)(2) is effective to the extent that there is:
(1)  a transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term;  or
(2)  a delegation of a material performance of either party to the lease contract in violation of the term.
(c)  The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of Section 2A.303(d) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001;  Acts 2001, 77th Leg., ch. 705, Sec. 12, eff. June 13, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter D. Rights of Third Parties › Section 9.409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective

Sec. 9.409.  RESTRICTIONS ON ASSIGNMENT OF LETTER-OF-CREDIT RIGHTS INEFFECTIVE.  (a)  A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit that prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom, or practice:
(1)  would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right;  or
(2)  provides that the assignment or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.
(b)  To the extent that a term in a letter of credit is ineffective under Subsection (a) but would be effective under law other than this chapter or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit, or to the assignment of a right to proceeds of the letter of credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right:
(1)  is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;
(2)  imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary;  and
(3)  does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001;  Acts 2001, 77th Leg., ch. 705, Sec. 14, eff. June 13, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.501. Filing Office

Sec. 9.501.  FILING OFFICE.  (a)  Except as otherwise provided in Subsection (b), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(1)  the office designated for the filing or recording of a record of a mortgage on the related real property, if:
(A)  the collateral is as-extracted collateral or timber to be cut;  or
(B)  the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures;  or
(2)  the office of the Secretary of State, in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
(b)  The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the Secretary of State.  The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement that is or is to become fixtures.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.502. Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement

Sec. 9.502.  CONTENTS OF FINANCING STATEMENT;  RECORD OF MORTGAGE AS FINANCING STATEMENT;  TIME OF FILING FINANCING STATEMENT.  (a)  Subject to Subsection (b), a financing statement is sufficient only if it:
(1)  provides the name of the debtor;
(2)  provides the name of the secured party or a representative of the secured party;  and
(3)  indicates the collateral covered by the financing statement.
(b)  Except as otherwise provided in Section 9.501(b), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut, or that is filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy Subsection (a) and also:
(1)  indicate that it covers this type of collateral;
(2)  indicate that it is to be filed for record in the real property records;
(3)  provide a description of the real property to which the collateral is related sufficient to give constructive notice of a mortgage under the law of this state if the description were contained in a record of the mortgage of the real property;  and
(4)  if the debtor does not have an interest of record in the real property, provide the name of a record owner.
(c)  A record of a mortgage is effective, from the date of recording, as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut only if:
(1)  the record indicates the goods or accounts that it covers;
(2)  the goods are or are to become fixtures related to the real property described in the record or the collateral is related to the real property described in the record and is as-extracted collateral or timber to be cut;
(3)  the record satisfies the requirements for a financing statement in this section, but:
(A)  the record need not indicate that it is to be filed in the real property records; and
(B)  the record sufficiently provides the name of a debtor who is an individual if it provides the individual name of the debtor or the surname and first personal name of the debtor, even if the debtor is an individual to whom Section 9.503(a)(4) or (5) applies; and
(4)  the record is duly recorded.
(d)  A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 67 (S.B. 782), Sec. 11, eff. July 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.504. Indication of Collateral

Sec. 9.504.  INDICATION OF COLLATERAL.  A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:
(1)  a description of the collateral pursuant to Section 9.108;  or
(2)  an indication that the financing statement covers all assets or all personal property.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001;  Acts 2001, 77th Leg., ch. 705, Sec. 15, eff. June 13, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.505. Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Sec. 9.505.  FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES, OTHER BAILMENTS, AND OTHER TRANSACTIONS.  (a)  A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in Section 9.311(a), using the terms "consignor," "consignee," "lessor," "lessee," "bailor," "bailee," "licensor," "licensee," "owner," "registered owner," "buyer," or "seller," or words of similar import, instead of the terms "secured party" and "debtor."
(b)  This subchapter applies to the filing of a financing statement under Subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under Section 9.311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation.  If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer that attaches to the collateral is perfected by the filing or compliance.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.506. Effect of Errors or Omissions

Sec. 9.506.  EFFECT OF ERRORS OR OMISSIONS.  (a)  A financing statement substantially satisfying the requirements of this subchapter is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(b)  Except as otherwise provided in Subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with Section 9.503(a) is seriously misleading.
(c)  If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with Section 9.503(a), the name provided does not make the financing statement seriously misleading.
(d)  For purposes of Section 9.508(b), the "debtor's correct name" in Subsection (c) means the correct name of the new debtor.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.507. Effect of Certain Events on Effectiveness of Financing Statement

Sec. 9.507.  EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING STATEMENT.  (a)  A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b)  Except as otherwise provided in Subsection (c) and Section 9.508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under Section 9.506.
(c)  If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under Section 9.503(a) so that the financing statement becomes seriously misleading under Section 9.506:
(1)  the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2)  the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement that renders the financing statement not seriously misleading is filed within four months after that event.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 67 (S.B. 782), Sec. 13, eff. July 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.508. Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement

Sec. 9.508.  EFFECTIVENESS OF FINANCING STATEMENT IF NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT.  (a)  Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b)  If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under Subsection (a) to be seriously misleading under Section 9.506:
(1)  the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under Section 9.203(d);  and
(2)  the financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under Section 9.203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c)  This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under Section 9.507(a).
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.509. Persons Entitled to File a Record

Sec. 9.509.  PERSONS ENTITLED TO FILE A RECORD.  (a)  A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
(1)  the debtor authorizes the filing in an authenticated record or pursuant to Subsection (b) or (c);  or
(2)  the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b)  By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(1)  the collateral described in the security agreement;  and
(2)  property that becomes collateral under Section 9.315(a)(2), whether or not the security agreement expressly covers proceeds.
(c)  By acquiring collateral in which a security interest or agricultural lien continues under Section 9.315(a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under Section 9.315(a)(2).
(d)  A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
(1)  the secured party of record authorizes the filing;  or
(2)  the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9.513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e)  If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under Subsection (d).
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.  Amended by Acts 2001, 77th Leg., ch. 705, Sec. 16, eff. June 13, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.510. Effectiveness of Filed Record

Sec. 9.510.  EFFECTIVENESS OF FILED RECORD.  (a)  A filed record is effective only to the extent that it was filed by a person that may file it under Section 9.509.
(b)  A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c)  A continuation statement that is not filed within the six-month period prescribed by Section 9.515(d) is ineffective.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.511. Secured Party of Record

Sec. 9.511.  SECURED PARTY OF RECORD.  (a)  A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed.  If an initial financing statement is filed under Section 9.514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b)  If an amendment of a financing statement that provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record.  If an amendment is filed under Section 9.514(b), the assignee named in the amendment is a secured party of record.
(c)  A person remains a secured party of record until the filing of an amendment of the financing statement that deletes the person.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.512. Amendment of Financing Statement

Sec. 9.512.  AMENDMENT OF FINANCING STATEMENT.  (a)  Subject to Section 9.509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to Subsection (e), otherwise amend the information provided in a financing statement by filing an amendment that:
(1)  identifies, by its file number, the initial financing statement to which the amendment relates;  and
(2)  if the amendment relates to an initial financing statement filed or recorded in a filing office described in Section 9.501(a)(1), provides the information specified in Section 9.502(b).
(b)  Except as otherwise provided in Section 9.515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c)  A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d)  A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
(e)  An amendment is ineffective to the extent it:
(1)  purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement;  or
(2)  purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
(f)  A secured party may change the name or mailing address of the secured party in more than one financing statement by filing a master amendment setting forth the name of the secured party and file number of each financing statement and the new name or mailing address of the secured party.  The secured party must also provide filing information in computer-readable form prescribed by the Secretary of State.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.513. Termination Statement

Sec. 9.513.  TERMINATION STATEMENT.  (a)  A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(1)  there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;  or
(2)  the debtor did not authorize the filing of the initial financing statement.
(b)  To comply with Subsection (a), a secured party shall cause the secured party of record to file the termination statement:
(1)  within one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make advances, incur an obligation, or otherwise give value;  or
(2)  if earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
(c)  In cases not governed by Subsection (a), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(1)  except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2)  the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3)  the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession;  or
(4)  the debtor did not authorize the filing of the initial financing statement.
(d)  Except as otherwise provided in Section 9.510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective.  Except as otherwise provided in Section 9.510, for purposes of Sections 9.519(g), 9.522(a), and 9.523(c), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.  Amended by Acts 2001, 77th Leg., ch. 705, Sec. 17, eff. June 13, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.514. Assignment of Powers of Secured Party of Record

Sec. 9.514.  ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.  (a)  Except as otherwise provided in Subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b)  Except as otherwise provided in Subsection (c), a secured party of record may assign of record all or a part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement that:
(1)  identifies, by its file number, the initial financing statement to which it relates;
(2)  provides the name of the assignor;  and
(3)  provides the name and mailing address of the assignee.
(c)  An assignment of record of a security interest in a fixture covered by a record of a mortgage that is effective as a financing statement filed as a fixture filing under Section 9.502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than this chapter.
(d)  A secured party of record may assign of record all of the secured party's rights under more than one financing statement filed with the Secretary of State by filing a master assignment setting forth the name of the secured party of record and file number of each financing statement and the name and mailing address of the assignee.  The secured party must also provide filing information in computer-readable form prescribed by the Secretary of State.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.517. Effect of Indexing Errors

Sec. 9.517.  EFFECT OF INDEXING ERRORS.  The failure of the filing office to index a record or to correctly index information contained in a record does not affect the effectiveness of the filed record.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 565 (S.B. 1540), Sec. 3, eff. June 16, 2007.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.518. Claim Concerning Inaccurate or Wrongfully Filed Record

Sec. 9.518.  CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD.  (a)  Any person named as a debtor or a secured party may file an information statement with respect to a record if the person believes that the record is inaccurate or was wrongfully filed.
(b)  An information statement must:
(1)  identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;
(2)  indicate that it is an information statement; and
(3)  provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
(c)  The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
(d)  Filing of an information statement is not effective as an amendment to a filed financing statement and is not sufficient to effect a change in the manner in which the filing office has indexed a financing statement or information contained in a financing statement.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 565 (S.B. 1540), Sec. 4, eff. June 16, 2007.
Acts 2011, 82nd Leg., R.S., Ch. 67 (S.B. 782), Sec. 16, eff. July 1, 2013.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.5185. Fraudulent Filing

Sec. 9.5185.  FRAUDULENT FILING.  (a)  A person may not intentionally or knowingly present for filing or cause to be presented for filing a financing statement that the person knows:
(1)  is forged;
(2)  contains a material false statement;  or
(3)  is groundless.
(b)  A person who violates Subsection (a) is liable to the owner of property covered by the financing statement for:
(1)  the greater of $5,000 or the owner's actual damages;
(2)  court costs;  and
(3)  reasonable attorney's fees.
(c)  A person who violates Subsection (a) also may be prosecuted under Section 37.101, Penal Code.
(d)  An owner of property covered by a fraudulent financing statement described in Subsection (a) also may file suit in a court of suitable jurisdiction requesting specific relief, including, but not limited to, release of the fraudulent financing statement.  A successful plaintiff is entitled to reasonable attorney's fees and costs of court assessed against the person who filed the fraudulent financing statement.  If the person who filed the fraudulent financing statement cannot be located or is a fictitious person, the owner of the property may serve the known or unknown defendant through publication in a newspaper of general circulation in the county in which the suit is brought.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.520. Acceptance and Refusal to Accept Record

Sec. 9.520.  ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.  (a)  A filing office shall refuse to accept a record for filing for a reason set forth in Section 9.516(b) and may refuse to accept a record for filing only for a reason set forth in Section 9.516(b).
(b)  If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it.  The communication must be made at the time and in the manner prescribed by filing-office rule, but in the case of a filing office described in Section 9.501(a)(2), in no event more than two business days after the filing office receives the record.
(c)  A filed financing statement satisfying Sections 9.502(a) and (b) is effective, even if the filing office is required to refuse to accept it for filing under Subsection (a).  However, Section 9.338 applies to a filed financing statement providing information described in Section 9.516(b)(5) that is incorrect at the time the financing statement is filed.
(d)  If a record communicated to a filing office provides information that relates to more than one debtor, this subchapter applies as to each debtor separately.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.5211. Uniform Form of Written Financing Statement and Amendment

Sec. 9.5211.  UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT.  (a)  Except as provided by Section 9.516(b), a filing office that accepts written records may not refuse to accept a written initial financing statement on an industry standard form, including a national standard form or a form approved by the International Association of Commercial Administrators, adopted by rule by the secretary of state.
(b)  Except as provided by Section 9.516(b), a filing office that accepts written records may not refuse to accept a written record on an industry standard form, including a national standard form or a form approved by the International Association of Commercial Administrators, adopted by rule by the secretary of state.
Added by Acts 2003, 78th Leg., ch. 748, Sec. 2, eff. Jan. 1, 2004.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.522. Maintenance and Destruction of Records

Sec. 9.522.  MAINTENANCE AND DESTRUCTION OF RECORDS.  (a)  The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under Section 9.515 with respect to all secured parties of record.  The record must be retrievable by using the name of the debtor and by using the file number assigned to the initial financing statement to which the record relates.
(b)  Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement.  However, if the filing office destroys a written record, it shall maintain another record of the financing statement that complies with Subsection (a).
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.523. Information From Filing Office; Sale or License of Records

Sec. 9.523.  INFORMATION FROM FILING OFFICE;  SALE OR LICENSE OF RECORDS.  (a)  If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to Section 9.519(a)(1) and the date and time of the filing of the record.  However, if the person furnishes a copy of the record to the filing office, the filing office may instead:
(1)  note upon the copy the number assigned to the record pursuant to Section 9.519(a)(1) and the date and time of the filing of the record;  and
(2)  send the copy to the person.
(b)  If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides:
(1)  the information in the record;
(2)  the number assigned to the record pursuant to Section 9.519(a)(1);  and
(3)  the date and time of the filing of the record.
(c)  The filing office shall communicate or otherwise make available in a record the following information to any person that requests it:
(1)  whether there is on file on a date and time specified by the filing office, but not a date earlier than three business days before the filing office receives the request, any financing statement that:
(A)  designates a particular debtor or, if the request so states, designates a particular debtor at the address specified in the request;
(B)  has not lapsed under Section 9.515 with respect to all secured parties of record;  and
(C)  if the request so states, has lapsed under Section 9.515 and a record of which is maintained by the filing office under Section 9.522(a);
(2)  the date and time of filing of each financing statement;  and
(3)  the information provided in each financing statement.
(d)  In complying with its duty under Subsection (c), the filing office may communicate information in any medium.  However, if requested, the filing office shall communicate information by issuing its written certificate.
(e)  The filing office shall perform the acts required by Subsections (a)-(d) at the time and in the manner prescribed by filing-office rule, but not later than two business days after the filing office receives the request.
(f)  At least weekly, the Secretary of State shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed with the Secretary under this subchapter, in every medium from time to time available to the Secretary.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.524. Delay by Filing Office

Sec. 9.524.  DELAY BY FILING OFFICE.  Delay by the filing office beyond a time limit prescribed by this subchapter is excused if:
(1)  the delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office;  and
(2)  the filing office exercises reasonable diligence under the circumstances.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.525. Fees

Sec. 9.525.  FEES.  (a)  Except as otherwise provided in Subsections (b), (e), and (f), the fee for filing and indexing a record under this subchapter is:
(1)  $15 if the record is communicated in writing and consists of one or two pages;
(2)  $30 if the record is communicated in writing and consists of more than two pages; and
(3)  $5 if the record is communicated by another medium authorized by filing-office rule.
(b)  Except as otherwise provided in Subsection (e), the fee for filing and indexing an initial financing statement of the following kinds is:
(1)  $60 if the financing statement indicates that it is filed in connection with a public-finance transaction;
(2)  $60 if the financing statement indicates that it is filed in connection with a manufactured-home transaction; and
(3)  $60 if the debtor is a transmitting utility.
(c)  The number of names required to be indexed does not affect the amount of the fee in Subsections (a) and (b).
(d)  The fee for responding to a request for information from the filing office, including for communicating whether there is on file any financing statement naming a particular debtor, is:
(1)  $15 if the request is communicated in writing;  and
(2)  an amount established by the filing office if the request is communicated by another medium authorized by filing-office rule.
(e)  This section does not require a fee with respect to a record of a mortgage that is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under Section 9.502(c).  However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply.
(f)  The filing fee for filing, indexing, and furnishing filing data about a statement of master amendment under Section 9.512(f) or master assignment under Section 9.514(d) is $500 plus 50 cents for each financing statement covered by the master statement in excess of 50.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.  Amended by Acts 2001, 77th Leg., ch. 705, Sec. 18, eff. June 13, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 547 (S.B. 1699), Sec. 1, eff. September 1, 2009.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.526. Filing-Office Rules

Sec. 9.526.  FILING-OFFICE RULES.  (a)  The Secretary of State shall adopt and publish rules to implement this chapter.  The filing-office rules must be consistent with this chapter.
(b)  To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this subchapter, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this subchapter, the Secretary of State, so far as is consistent with the purposes, policies, and provisions of this chapter, in adopting, amending, and repealing filing-office rules, shall:
(1)  consult with filing offices in other jurisdictions that enact substantially this subchapter;
(2)  consult the most recent version of the Model Administrative Rules promulgated by the International Association of Commercial Administrators or any successor organization; and
(3)  take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this subchapter.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 547 (S.B. 1699), Sec. 2, eff. September 1, 2009.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter E. Filing › Section 9.527. Duty to Report

Sec. 9.527.  DUTY TO REPORT.  The Secretary of State shall report before January 1 of each odd-numbered year to the Legislature on the operation of the filing office.  The report must contain a statement of the extent to which:
(1)  the filing-office rules are not in harmony with the rules of filing offices in other jurisdictions that enact substantially this subchapter and the reasons for these variations; and
(2)  the filing-office rules are not in harmony with the most recent version of the Model Administrative Rules promulgated by the International Association of Commercial Administrators, or any successor organization, and the reasons for these variations.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 547 (S.B. 1699), Sec. 3, eff. September 1, 2009.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter F. Default › Section 9.601. Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes

Sec. 9.601.  RIGHTS AFTER DEFAULT;  JUDICIAL ENFORCEMENT;  CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, OR PROMISSORY NOTES.  (a)  After default, a secured party has the rights provided in this subchapter and, except as otherwise provided in Section 9.602, those provided by agreement of the parties.  A secured party:
(1)  may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure;  and
(2)  if the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(b)  A secured party in possession of collateral or control of collateral under Section 7.106, 9.104, 9.105, 9.106, or 9.107 has the rights and duties provided in Section 9.207.
(c)  The rights under Subsections (a) and (b) are cumulative and may be exercised simultaneously.
(d)  Except as otherwise provided in Subsection (g) and Section 9.605, after default, a debtor and an obligor have the rights provided in this subchapter and by agreement of the parties.
(e)  If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(1)  the date of the perfection of the security interest or agricultural lien in the collateral;
(2)  the date of filing a financing statement covering the collateral;  or
(3)  any date specified in a statute under which the agricultural lien was created.
(f)  A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section.  A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(g)  Except as otherwise provided in Section 9.607(c), this subchapter imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 30, eff. September 1, 2005.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter F. Default › Section 9.602. Waiver and Variance of Rights and Duties

Sec. 9.602.  WAIVER AND VARIANCE OF RIGHTS AND DUTIES.  Except as otherwise provided in Section 9.624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1)  Section 9.207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2)  Section 9.210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3)  Section 9.607(c), which deals with collection and enforcement of collateral;
(4)  Sections 9.608(a) and 9.615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5)  Sections 9.608(a) and 9.615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6)  Section 9.609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7)  Sections 9.610(b), 9.611, 9.613, and 9.614, which deal with disposition of collateral;
(8)  Section 9.615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9)  Section 9.616, which deals with explanation of the calculation of a surplus or deficiency;
(10)  Sections 9.620, 9.621, and 9.622, which deal with acceptance of collateral in satisfaction of obligation;
(11)  Section 9.623, which deals with redemption of collateral;
(12)  Section 9.624, which deals with permissible waivers;  and
(13)  Sections 9.625 and 9.626, which deal with the secured party's liability for failure to comply with this chapter.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter F. Default › Section 9.603. Agreement on Standards Concerning Rights and Duties

Sec. 9.603.  AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.  (a)  The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Section 9.602 if the standards are not manifestly unreasonable.
(b)  Subsection (a) does not apply to the duty under Section 9.609 to refrain from breaching the peace.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
2023 Texas Statutes › Business and Commerce Code › Title 1 - Uniform Commercial Code › Chapter 9 - Secured Transactions › Subchapter F. Default › Section 9.604. Procedure if Security Agreement Covers Real Property or Fixtures

Sec. 9.604.  PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.  (a)  If a security agreement covers both personal and real property, a secured party may proceed:
(1)  under this subchapter as to the personal property without prejudicing any rights with respect to the real property;  or
(2)  as to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this subchapter do not apply.
(b)  Subject to Subsection (c), if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1)  under this subchapter;  or
(2)  in accordance with the rights with respect to real property, in which case the other provisions of this subchapter do not apply.
(c)  Subject to the other provisions of this subchapter, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property.
(d)  A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal.  The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them.  A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.