261.003 – APPLICABILITY OF CHAPTER. A utility is subject
Texas Business and Commerce Code § 261.003
Summary
This law establishes that a utility must file a specific security instrument with the secretary of state to be subject to this chapter's requirements and benefits. It clarifies that the protections apply only to collateral specified in the filed instrument.
Utilities must file a security instrument to be covered by this chapter.
The instrument must clearly state its purpose on the title page.
Benefits apply only to collateral specified in the filed instrument.
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In simple terms: Learn about Texas's APPLICABILITY OF CHAPTER. A utility is subject law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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