Tex. Bus. & Com. Code § 2A.531 · Subchapter E. DEFAULT
STANDING TO SUE THIRD PARTIES FOR INJURY TO GOODS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract:
(1) the lessor has a right of action against the third party; and
(2) the lessee also has a right of action against the third party if the lessee:
(A) has a security interest in the goods;
(B) has an insurable interest in the goods;
(C) bears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.
(b) If at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the lease contract and there is no arrangement between them for disposition of the recovery, the party's suit or settlement, subject to the party's own interest, is as a fiduciary for the other party to the lease contract.
(c) Either party with the consent of the other may sue for the benefit of whom it may concern.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 570, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.2A.htm
- Text hash
- sha256 1a0680eeac541704cda73bca67317b8480d9a32e03bfd49844d6014b768f14ed
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.