Sec. 14A.009. COTTON UNDER LIEN. A person who buys, sells, or deals with cotton on which a lien or encumbrance exists is not liable for conversion of the cotton if:
(1) the cotton is stored in a warehouse or is evidenced by a negotiable warehouse receipt issued by a public warehouse operator; and
(2) the person did not have actual knowledge of the lien or encumbrance at the time of the alleged conversion.
Renumbered from Sec. 14.211 and amended by Acts 2001, 77th Leg., ch. 1124, Sec. 1, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 2 - Department of Agriculture
Chapter 14A - Other Public Warehouse Operators
Section 14A.002. Certificate to Transact Business
Section 14A.003. Application for Certificate
Section 14A.006. Receipt for Cotton
Section 14A.0065. Receipt for Grapes
Section 14A.007. Duplicate Receipts
Section 14A.008. Exchange of Cotton Receipts
Section 14A.009. Cotton Under Lien
Section 14A.010. Receipt to Be Issued Only on Delivery