Bill Text: TX HB3901 | 2015-2016 | 84th Legislature | Enrolled
Bill Title: Relating to the repossession of an aircraft.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2015-06-19 - Effective on 9/1/15 [HB3901 Detail]
Download: Texas-2015-HB3901-Enrolled.html
| H.B. No. 3901 | ||
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| relating to the repossession of an aircraft. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Title 4, Property Code, is amended by adding | ||
| Chapter 30 to read as follows: | ||
| CHAPTER 30. WRIT OF ASSISTANCE FOR REPOSSESSION OF AIRCRAFT | ||
| Sec. 30.01. DEFINITIONS. In this chapter: | ||
| (1) "Aircraft" means a self-propelled motor vehicle | ||
| that can be used to transport a person by flight in the air. | ||
| (2) "Repossession" means the recovery of an aircraft | ||
| that has been sold under a security agreement containing a | ||
| repossession clause authorizing the lender to recover the aircraft | ||
| if the borrower defaults under the agreement. | ||
| (3) "Repossession agent" means an individual who is | ||
| authorized to engage in a repossession for a lender. | ||
| Sec. 30.02. WRIT OF ASSISTANCE FOR REPOSSESSION OF | ||
| AIRCRAFT. (a) A writ of assistance for the repossession of an | ||
| aircraft authorizes a peace officer to assist and protect a | ||
| repossession agent in gaining possession of the aircraft while the | ||
| agent: | ||
| (1) secures the aircraft on site; or | ||
| (2) prepares the aircraft, which may include a | ||
| mechanical inspection, for removal from the site by flight or | ||
| otherwise to another location. | ||
| (b) A writ of assistance for the repossession of an aircraft | ||
| is valid for 30 days. | ||
| (c) A justice court may grant unlimited extensions of a writ | ||
| of assistance issued under this chapter. | ||
| Sec. 30.03. PETITION FOR WRIT OF ASSISTANCE. (a) A | ||
| repossession agent may file a petition in a justice court for a writ | ||
| of assistance for the repossession of an aircraft. | ||
| (b) The repossession agent is entitled to the writ if the | ||
| repossession agent establishes that: | ||
| (1) the aircraft is subject to the proposed | ||
| repossession; and | ||
| (2) the repossession agent is authorized to engage in | ||
| the repossession. | ||
| (c) The petition for the writ must include a copy of: | ||
| (1) the security agreement relating to the aircraft; | ||
| (2) the notice of default under the security agreement | ||
| sent by the lender to the borrower; | ||
| (3) the instrument in which a power of attorney for the | ||
| repossession is granted to the repossession agent by the lender; | ||
| and | ||
| (4) the results of a title search of the Federal | ||
| Aviation Administration's records for the aircraft. | ||
| SECTION 2. This Act takes effect September 1, 2015. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 3901 was passed by the House on May 8, | ||
| 2015, by the following vote: Yeas 142, Nays 0, 2 present, not | ||
| voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 3901 was passed by the Senate on May | ||
| 27, 2015, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: _____________________ | ||
| Date | ||
| _____________________ | ||
| Governor | ||
