Texas § UT.39.304 - PROPERTY RIGHTS
Full text of Texas The Texas Constitution § UT.39.304 — PROPERTY RIGHTS, with citation guidance and answers to common questions.
§ UT.39.304. PROPERTY RIGHTS
PROPERTY RIGHTS. (a) The rights and interests of an electric utility or successor under a financing order, including the right to impose, collect, and receive transition charges authorized in the order, shall be only contract rights until they are first transferred to an assignee or pledged in connection with the issuance of transition bonds, at which time they will become "transition property." (b) Transition property shall constitute a present property right for purposes of contracts concerning the sale or pledge of property, even though the imposition and collection of transition charges depends on further acts of the utility or others that have not yet occurred. The financing order shall remain in effect and the property shall continue to exist for the same period as the pledge of the state described in Section 39.310 . (c) All revenues and collections resulting from transition charges shall constitute proceeds only of the transition property arising from the financing order. Added by Acts 1999, 76th Leg., ch. 405, Sec. 39, eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § UT.39.304
What does The Texas Constitution § UT.39.304 cover?
Section UT.39.304 ("PROPERTY RIGHTS") 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.39.304?
A common citation format is "The Texas Constitution § UT.39.304" (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.39.304 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.