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
 
 
 
 
AN ACT
  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       
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