Tex. Utilities Code § 41.158
TRUE SALE
Texas · Texas Utilities Code · Status: effective
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- Citation
- Tex. Utilities Code § 41.158, TRUE SALE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/576983
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Full text
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.