Tex. Ins. Code § 2203.358 · Subchapter H. REVENUE BOND PROGRAM
SOURCE OF PAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds issued under this subchapter are payable only from:
(1) the surcharge fee established under Section 2203.359; or
(2) other sources the association is authorized to levy and charge and from which the association is authorized to collect in connection with paying any portion of the bonds.
(b) The bonds are obligations solely of the association and do not create a pledge, gift, or loan of the faith, credit, or taxing authority of this state.
(c) Each bond must:
(1) include a statement that the state is not obligated to pay any amount on the bond and that the faith, credit, and taxing authority of this state are not pledged, given, or loaned to those payments; and
(2) state on the bond's face that the bond:
(A) is payable solely from the revenue pledged for that purpose; and
(B) is not a legal or moral obligation of the state.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2203.htm
- Text hash
- sha256 ee5e4b0e9315aadc066827016e48a0bf1fb391bc619db5d4de592cbe8c8e8b73
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.