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2025 Texas Statutes
Utilities Code
Title 2 - Public Utility Regulatory Act
Subtitle B - Electric Utilities
Chapter 41 - Electric Cooperatives and Competition
Subchapter D. Market Participation and Securitization
Section 41.155. No Setoff
Universal Citation:
TX Util § 41.155 (2025)
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Sec. 41.155. NO SETOFF. The interest of an assignee or pledgee in securitized property and in the revenues and collections arising from that property are not subject to setoff, counterclaim, surcharge, recoupment, or defense by the electric cooperative or any other person or in connection with the bankruptcy of the electric cooperative or any other entity. A financing order shall remain in effect and unabated notwithstanding the bankruptcy of the electric cooperative, its successors, or assignees.
Added by Acts 2021, 87th Leg., R.S., Ch. 950 (S.B. 1580), Sec. 1, eff. June 18, 2021.
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