Texas § BC.9.318 - NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD
Full text of Texas The Texas Constitution § BC.9.318 — NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD, with citation guidance and answers to common questions.
§ BC.9.318. NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD
NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD; RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL PAPER WITH RESPECT TO CREDITORS AND PURCHASERS. (a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold. (b) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold. Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BC.9.318
What does The Texas Constitution § BC.9.318 cover?
Section BC.9.318 ("NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD") 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 § BC.9.318?
A common citation format is "The Texas Constitution § BC.9.318" (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 § BC.9.318 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.