| 7 | 2 | | |
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| 8 | 3 | | |
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| 9 | 4 | | A BILL TO BE ENTITLED |
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| 10 | 5 | | AN ACT |
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| 11 | 6 | | relating to the repossession of an aircraft. |
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| 12 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 8 | | SECTION 1. Title 4, Property Code, is amended by adding |
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| 14 | 9 | | Chapter 30 to read as follows: |
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| 15 | 10 | | CHAPTER 30. WRIT OF ASSISTANCE FOR REPOSSESSION OF AIRCRAFT |
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| 16 | 11 | | Sec. 30.01. DEFINITIONS. In this chapter: |
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| 17 | 12 | | (1) "Aircraft" means a self-propelled motor vehicle |
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| 18 | 13 | | that can be used to transport a person by flight in the air. |
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| 19 | 14 | | (2) "Repossession" means the recovery of an aircraft |
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| 20 | 15 | | that has been sold under a security agreement containing a |
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| 21 | 16 | | repossession clause authorizing the lender to recover the aircraft |
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| 22 | 17 | | if the borrower defaults under the agreement. |
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| 23 | 18 | | (3) "Repossession agent" means an individual who is |
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| 24 | 19 | | authorized to engage in a repossession for a lender. |
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| 25 | 20 | | Sec. 30.02. WRIT OF ASSISTANCE FOR REPOSSESSION OF |
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| 26 | 21 | | AIRCRAFT. (a) A writ of assistance for the repossession of an |
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| 27 | 22 | | aircraft authorizes a peace officer to assist and protect a |
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| 28 | 23 | | repossession agent in gaining possession of the aircraft while the |
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| 29 | 24 | | agent: |
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| 30 | 25 | | (1) secures the aircraft on site; or |
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| 31 | 26 | | (2) prepares the aircraft, which may include a |
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| 32 | 27 | | mechanical inspection, for removal from the site by flight or |
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| 33 | 28 | | otherwise to another location. |
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| 34 | 29 | | (b) A writ of assistance for the repossession of an aircraft |
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| 35 | 30 | | is valid for 30 days. |
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| 36 | 31 | | (c) A justice court may grant unlimited extensions of a writ |
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| 37 | 32 | | of assistance issued under this chapter. |
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| 38 | 33 | | Sec. 30.03. PETITION FOR WRIT OF ASSISTANCE. (a) A |
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| 39 | 34 | | repossession agent may file a petition in a justice court for a writ |
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| 40 | 35 | | of assistance for the repossession of an aircraft. |
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| 41 | 36 | | (b) The repossession agent is entitled to the writ if the |
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| 42 | 37 | | repossession agent establishes that: |
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| 43 | 38 | | (1) the aircraft is subject to the proposed |
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| 44 | 39 | | repossession; and |
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| 45 | 40 | | (2) the repossession agent is authorized to engage in |
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| 46 | 41 | | the repossession. |
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| 47 | 42 | | (c) The petition for the writ must include a copy of: |
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| 48 | 43 | | (1) the security agreement relating to the aircraft; |
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| 49 | 44 | | (2) the notice of default under the security agreement |
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| 50 | 45 | | sent by the lender to the borrower; |
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| 51 | 46 | | (3) the instrument in which a power of attorney for the |
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| 52 | 47 | | repossession is granted to the repossession agent by the lender; |
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| 53 | 48 | | and |
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| 54 | 49 | | (4) the results of a title search of the Federal |
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| 55 | 50 | | Aviation Administration's records for the aircraft. |
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| 56 | 51 | | SECTION 2. This Act takes effect September 1, 2015. |
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