Sec. 263.151. DEFINITIONS

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In this subchapter:
(1) "Salvage property" means personal property, other than items routinely discarded as waste, that because of use, time, accident, or any other cause is so worn, damaged, or obsolete that it has no value for the purpose for which it was originally intended.
(2) "Surplus property" means personal property that:
(A) is not salvage property or items routinely discarded as waste;
(B) is not currently needed by its owner;
(C) is not required for the owner's foreseeable needs; and
(D) possesses some usefulness for the purpose for which it was intended.

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 1, Sec. 61(b), eff. Aug. 28, 1989.

                    
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