Sec. 9.335. ACCESSIONS. (a) A security interest may be created in an accession and continues in collateral that becomes an accession.
(b) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral.
(c) Except as otherwise provided in Subsection (d), the other provisions of this subchapter determine the priority of a security interest in an accession.
(d) A security interest in an accession is subordinate to a security interest in the whole that is perfected by compliance with the requirements of a certificate-of-title statute under Section 9.311(b).
(e) After default, subject to Subchapter F, a secured party may remove an accession from other goods if the security interest in the accession has priority over the claims of every person having an interest in the whole.
(f) A secured party that removes an accession from other goods under Subsection (e) shall promptly reimburse any holder of a security interest or other lien on, or owner of, the whole or the other goods, other than the debtor, for the cost of repair of any physical injury to the whole or the other goods. The secured party need not reimburse the holder or owner for any diminution in value of the whole or the other goods caused by the absence of the accession removed or by any necessity for replacing it. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 9 - Secured Transactions
Subchapter C. Perfection and Priority
Section 9.301. Law Governing Perfection and Priority of Security Interests
Section 9.302. Law Governing Perfection and Priority of Agricultural Liens
Section 9.304. Law Governing Perfection and Priority of Security Interests in Deposit Accounts
Section 9.305. Law Governing Perfection and Priority of Security Interests in Investment Property
Section 9.307. Location of Debtor
Section 9.308. When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection
Section 9.309. Security Interest Perfected Upon Attachment
Section 9.314. Perfection by Control
Section 9.315. Secured Party's Rights on Disposition of Collateral and in Proceeds
Section 9.316. Effect of Change in Governing Law
Section 9.319. Rights and Title of Consignee With Respect to Creditors and Purchasers
Section 9.320. Buyers of Goods
Section 9.321. Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business
Section 9.323. Future Advances
Section 9.324. Priority of Purchase-Money Security Interests
Section 9.325. Priority of Security Interests in Transferred Collateral
Section 9.326. Priority of Security Interests Created by New Debtor
Section 9.327. Priority of Security Interests in Deposit Account
Section 9.328. Priority of Security Interests in Investment Property
Section 9.329. Priority of Security Interests in Letter-of-Credit Right
Section 9.330. Priority of Purchaser of Chattel Paper or Instrument
Section 9.332. Transfer of Money; Transfer of Funds From Deposit Account
Section 9.333. Priority of Certain Liens Arising by Operation of Law
Section 9.334. Priority of Security Interests in Fixtures and Crops
Section 9.336. Commingled Goods
Section 9.337. Priority of Security Interests in Goods Covered by Certificate of Title
Section 9.339. Priority Subject to Subordination
Section 9.340. Effectiveness of Right of Recoupment or Set-Off Against Deposit Account
Section 9.341. Bank's Rights and Duties With Respect to Deposit Account
Section 9.342. Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement