By: Eltife S.B. No. 1077
(In the Senate - Filed March 9, 2015; March 16, 2015, read
first time and referred to Committee on Business and Commerce;
March 31, 2015, reported favorably by the following vote: Yeas 7,
Nays 0; March 31, 2015, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to the definition of "person" under the Uniform Commercial
Code.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1.201(b)(27), Business & Commerce Code,
is amended to read as follows:
(27) "Person" means an individual, corporation,
business trust, estate, trust, partnership, limited liability
company, association, joint venture, government, governmental
subdivision, agency, or instrumentality, public corporation, [or]
any other legal or commercial entity, or a particular series of a
for-profit entity.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2015.
* * * * *