Definitions

Sec. 30.01. DEFINITIONS. In this chapter: (1) "Aircraft" means a self-propelled motor vehicle that can be used to transport a person by flight in the air. (2) "Repossession" means the recovery of an aircraft that has been sold under a security agreement containing a repossession clause authorizing the lender to recover the aircraft if the borrower defaults under the agreement. (3) "Repossession agent" means an individual who is authorized to engage in a repossession for a lender. Added by Acts 2015, 84th Leg., R.S., Ch. 1125 (H.B. 3901), Sec. 1, eff. September 1, 2015.