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A BILL TO BE ENTITLED
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AN ACT
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relating to the definition of "person" under the Uniform Commercial |
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Code. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1.201(b)(27), Business & Commerce Code, |
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is amended to read as follows: |
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(27) "Person" means an individual, corporation, |
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business trust, estate, trust, partnership, limited liability |
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company, association, joint venture, government, governmental |
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subdivision, agency, or instrumentality, public corporation, [or] |
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any other legal or commercial entity, or a particular series of a |
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for-profit entity. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2015. |