Texas § UT.39.602 - DEFINITIONS
Full text of Texas The Texas Constitution § UT.39.602 — DEFINITIONS, with citation guidance and answers to common questions.
§ UT.39.602. DEFINITIONS
DEFINITIONS. In this subchapter: (1) "Default balance" means an amount of money of not more than $800 million that includes only: (A) amounts owed to the independent organization by competitive wholesale market participants from the period of emergency that otherwise would be or have been uplifted to other wholesale market participants; (B) financial revenue auction receipts used by the independent organization to temporarily reduce amounts short-paid to wholesale market participants related to the period of emergency; and (C) reasonable costs incurred by a state agency or the independent organization to implement a debt obligation order under Sections 39.603 and 39.604 , including the cost of retiring or refunding existing debt. (2) "Default charges" means charges assessed to wholesale market participants to repay amounts financed under this subchapter to pay the default balance. (3) "Independent organization" means the independent organization certified under Section 39.151 for the ERCOT power region. (4) "Period of emergency" means the period beginning 12:01 a.m., February 12, 2021, and ending 11:59 p.m., February 20, 2021. Added by Acts 2021, 87th Leg., R.S., Ch. 908 (H.B. 4492 ), Sec. 5, eff. June 16, 2021.
Frequently Asked Questions About Texas § UT.39.602
What does The Texas Constitution § UT.39.602 cover?
Section UT.39.602 ("DEFINITIONS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § UT.39.602?
A common citation format is "The Texas Constitution § UT.39.602" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § UT.39.602 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.