Texas § 1201.044 PLEDGE OR LIEN ON RESOURCES, ASSETS, OR FUND OF ISSUER.

Texas Statutes

§ 1201.044 — PLEDGE OR LIEN ON RESOURCES, ASSETS, OR FUND OF ISSUER.

Texas § 1201.044

Code GVGovernment Code

This text of Texas § 1201.044 (PLEDGE OR LIEN ON RESOURCES, ASSETS, OR FUND OF ISSUER.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1201.044 (2026).

Text

Sec. 1201.044. PLEDGE OR LIEN ON RESOURCES, ASSETS, OR FUND OF ISSUER.

(a)A pledge or lien provided for in a public security authorization on a resource of an issuer, including revenue or income, on an asset of an issuer, or on a fund maintained by an issuer:

(1)is valid without further action by the issuer according to its terms and without being filed or recorded, except in the records of the issuer;

(2)is effective from the time of payment for and delivery of the public security until the public security is paid or payment of the public security has been provided for; and

(3)is effective as to an item on hand or later received, and the item is subject to the lien or pledge without physical delivery of the item or other act.

(b)This section does not exempt an issuer from a duty to:

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1201.044. PLEDGE OR LIEN ON RESOURCES, ASSETS, OR FUND OF ISSUER. (a) A pledge or lien provided for in a public security authorization on a resource of an issuer, including revenue or income, on an asset of an issuer, or on a fund maintained by an issuer:
(1) is valid without further action by the issuer according to its terms and without being filed or recorded, except in the records of the issuer;
(2) is effective from the time of payment for and delivery of the public security until the public security is paid or payment of the public security has been provided for; and
(3) is effective as to an item on hand or later received, and the item is subject to the lien or pledge without physical delivery of the item or other act.
(b) This section does not exempt an issuer from a duty to:
(1) record a lien on real property; or
(2) submit a public security to the attorney general for approval and registration by the comptroller.
SUBCHAPTER D. CHANGE OR CONVERSION OF PUBLIC SECURITIES