Sec. 70.407. DISCHARGE OF LIEN

Latest version.

(a) A lien created under this subchapter is discharged when:
(1) the lienholder receives full payment for the agricultural crop; or
(2) payment is tendered by the contract purchaser and the lienholder, without coercion, defers payment.
(b) If payment for the agricultural crop is received in the form of a negotiable instrument, full payment is received when the negotiable instrument clears all financial institutions.

Added by Acts 2001, 77th Leg., ch. 732, Sec. 1, eff. Sept. 1, 2001.

                    
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