Texas § UT.41.158 - TRUE SALE
Full text of Texas The Texas Constitution § UT.41.158 — TRUE SALE, with citation guidance and answers to common questions.
§ UT.41.158. TRUE SALE
TRUE SALE. An agreement by an electric cooperative or assignee to transfer securitized property that expressly states that the transfer is a sale or other absolute transfer signifies that the transaction is a true sale and is not a secured transaction and that title, legal and equitable, has passed to the entity to which the securitized property is transferred. The transaction shall be treated as an absolute sale regardless of whether the purchaser has any recourse against the seller, or any other term of the parties' agreement, including the seller's retention of an equity interest in the securitized property, the fact that the electric cooperative acts as the collector of securitized charges relating to the securitized property, or the treatment of the transfer as a financing for tax, financial reporting, or other purposes. Added by Acts 2021, 87th Leg., R.S., Ch. 950 (S.B. 1580 ), Sec. 1, eff. June 18, 2021.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § UT.41.158
What does The Texas Constitution § UT.41.158 cover?
Section UT.41.158 ("TRUE SALE") 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.41.158?
A common citation format is "The Texas Constitution § UT.41.158" (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.41.158 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.