By: Eltife S.B. No. 1077
(Parker, Oliveira)
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.