Proceeds

Sec. 188.002. PROCEEDS. (a) For the purposes of this chapter, proceeds are the amounts received by a lien debtor, before a deduction for taxes, fees, or assessments or a deduction made under a court order, from the sale of: (1) the livestock for which the animal feed was used; (2) meat, milk, skins, wool, or other products derived from that livestock; or (3) issue born to that livestock. (b) For the purposes of this chapter, proceeds do not include amounts: (1) due or owing to a cooperative association under Chapter 51 or 52; or (2) retained by a cooperative association under Chapter 51 or 52. Added by Acts 1995, 74th Leg., ch. 197, Sec. 2, eff. Sept. 1, 1995. SUBCHAPTER B. ANIMAL FEED LIEN