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Current as of January 01, 2024 | Updated by FindLaw Staff
(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 crop that existed at the time of application on the land of the agricultural chemical sold by the lien claimant or applied, delivered, or prepared by the lien claimant;
(2) the first crop produced on the land after the agricultural chemical sold by the lien claimant or applied, delivered, or prepared by the lien claimant was applied, if crops did not exist on the land at the time the agricultural chemical was applied; or
(3) the crop produced from the agricultural seed supplied by the lien claimant or applied, delivered, or prepared by the lien claimant.
(b) For the purposes of this chapter, the following are not included as proceeds:
(1) amounts due or owing to a cooperative association under Chapter 51 or 52; or
(2) amounts retained by a cooperative association under Chapter 51 or 52.
Cite this article: FindLaw.com - Texas Agriculture Code - AGRIC § 128.002. Proceeds - last updated January 01, 2024 | https://codes.findlaw.com/tx/agriculture-code/agric-sect-128-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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