Texas Government Code 4005.003 – Pledged Securities
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Terms Used In Texas Government Code 4005.003
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
The exemption provided by § 4005.001 applies to the sale of a security pledged in good faith as security for a bona fide debt that is made by or for the account of a pledge holder or mortgagee that is selling the security or offering the security for sale or delivery in the ordinary course of business to liquidate the debt.