Bill Text: TX HB3663 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to marketing contracts and agricultural liens.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2017-05-08 - Placed on General State Calendar [HB3663 Detail]
Download: Texas-2017-HB3663-Introduced.html
By: Burns | H.B. No. 3663 |
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relating to marketing contracts and agricultural liens. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 70.4045(c), Property Code, is amended to | ||
read as follows: | ||
(c) Notwithstanding Chapter 9, Business & Commerce | ||
Code, a lien created and perfected under this subchapter has | ||
priority over a conflicting security interest in or lien on the | ||
agricultural crop or the proceeds from the sale of the crop created | ||
by the contract purchaser in favor of a third party, [ |
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of the date the security interest or lien created by the contract | ||
purchaser attached. This subsection does not: [ |
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(1) affect the validity or priority of a security interest | ||
or lien created and perfected to secure a loan directly to the | ||
agricultural producer; | ||
(2) affect the validity or priority of a cotton ginner's | ||
lien created under Section 70.003(d); | ||
(3) apply to a contract purchaser who purchases an | ||
agricultural crop from an agricultural producer pursuant to a | ||
marketing contract created under Section 52.016, Agriculture Code, | ||
or under Title 7, USC (specifically Chapter 35A, Subchapter I, § | ||
1421, and Subchapter II, § 1441, and Chapter 106, Subchapter II, §§ | ||
7931-7939) and Title 15, Chapter 15, Subchapter II, USC (statutes | ||
relating to the Commodity Credit Corporation, and specifically §§ | ||
714b, 714c, and 714j). | ||
SECTION 2. This Act takes effect September 1, 2017. |