1208.002 – PLEDGE OF SECURITY. (a) A security interest
Texas Government Code § 1208.002
Summary
This law establishes that a security interest created by a governmental unit through a security agreement is valid and effective for all specified property. It applies to both property already owned and property acquired later, ensuring the security interest is perfected upon the agreement's execution.
Valid for all property listed in the security agreement.
Covers property owned at agreement signing and future acquisitions.
Perfection of the security interest occurs upon agreement execution.
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In simple terms: Learn about Texas's PLEDGE OF SECURITY. (a) A security interest 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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