BUSINESS AND COMMERCE CODE

TITLE 9.  APPLICABILITY OF LAW TO COMMERCIAL TRANSACTIONS

CHAPTER 271.  RIGHTS OF PARTIES TO CHOOSE LAW APPLICABLE

TO CERTAIN TRANSACTIONS

Sec. 271.001.  DEFINITION.  In this chapter, "qualified transaction" means a transaction under which a party:
(1)  pays or receives, or is obligated to pay or is entitled to receive, consideration with an aggregate value of at least $1 million; or
(2)  lends, advances, borrows, or receives, or is obligated to lend or advance or is entitled to borrow or receive, money or credit with an aggregate value of at least $1 million.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.