Sec. 36.406. SEVERABILITY. Effective on the date the first utility transition bonds associated with system restoration costs are issued under this subchapter, if any provision in this title or portion of this title is held to be invalid or is invalidated, superseded, replaced, repealed, or expires for any reason, that occurrence does not affect the validity or continuation of this subchapter, Subchapter G, Chapter 39, as it applies to this subchapter, or any part of those provisions, or any other provision of this title that is relevant to the issuance, administration, payment, retirement, or refunding of transition bonds or to any actions of the electric utility, its successors, an assignee, a collection agent, or a financing party, and those provisions shall remain in full force and effect.
Added by Acts 2009, 81st Leg., R.S., Ch. 1 (S.B. 769), Sec. 1, eff. April 16, 2009.
Structure Texas Statutes
Title 2 - Public Utility Regulatory Act
Subtitle B - Electric Utilities
Subchapter I. Securitization for Recovery of System
Section 36.401. Securitization for Recovery of System Restoration Costs; Purpose
Section 36.402. System Restoration Costs; Standards and Definitions
Section 36.404. Nonbypassable Charges