Tex. Utilities Code § 39.305
This is the official text of Tex. Utilities Code § 39.305, part of Texas’s Utilities Code — regulates utility companies.
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§ 39.305. NO SETOFF.
Official statutory text
The interest of an assignee or pledgee in transition property and in the revenues and collections arising from that property are not subject to setoff, counterclaim, surcharge, or defense by the electric utility or any other person or in connection with the bankruptcy of the electric utility or any other entity. A financing order shall remain in effect and unabated notwithstanding the bankruptcy of the electric utility, its successors, or assignees.
Status: in_force · Read it on the official government site
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