Tex. Ins. Code § 2210.602 · Subchapter M. PUBLIC SECURITIES PROGRAM
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Text of section effective until September 01, 2027
In this subchapter:
(1) "Authority" means the Texas Public Finance Authority.
(1-a) "Board" means the board of directors of the Texas Public Finance Authority.
(1-b) "Catastrophic event" means an occurrence or a series of occurrences that occurs in a catastrophe area during a calendar year and that results in insured losses and operating expenses of the association in excess of premium and other revenue of the association.
(2) "Class 1 public securities" means public securities authorized to be issued by Section 2210.072, including a commercial paper program authorized before the occurrence of a catastrophic event.
(2-a) "Class 1 public security trust fund" means the dedicated trust fund established by the board and held by the Texas Treasury Safekeeping Trust Company into which premium surcharges collected under Section 2210.612 for the purpose of paying Class 1 public securities are deposited.
(3) "Class 2 public securities" means public securities authorized to be issued on or after the occurrence of a catastrophic event by Section 2210.073.
(3-a) "Class 2 public security trust fund" means the dedicated trust fund established by the board and held by the Texas Treasury Safekeeping Trust Company into which premium surcharges collected under Section 2210.613 for the purpose of paying Class 2 public securities are deposited.
(4) "Class 3 public securities" means public securities authorized to be issued on or after the occurrence of a catastrophic event by Section 2210.0741.
(4-a) "Class 3 public security trust fund" means the dedicated trust fund established by the board and held by the Texas Treasury Safekeeping Trust Company into which premium surcharges collected under Section 2210.6131 for the purpose of paying Class 3 public securities are deposited.
(5) "Credit agreement" has the meaning assigned by Chapter 1371, Government Code.
(5-a) Repealed by Acts 2015, 84th Leg., R.S., Ch. 615 , Sec. 31(2), eff. September 1, 2015.
(6) Repealed by Acts 2015, 84th Leg., R.S., Ch. 615 , Sec. 31(2), eff. September 1, 2015.
(6-b) Repealed by Acts 2015, 84th Leg., R.S., Ch. 615 , Sec. 31(2), eff. September 1, 2015.
(6-c) Repealed by Acts 2015, 84th Leg., R.S., Ch. 615 , Sec. 31(2), eff. September 1, 2015.
(7) "Public security" means a debt instrument or other public security issued by the Texas Public Finance Authority.
(8) "Public security administrative expenses" means expenses incurred to administer public securities issued under this subchapter, including fees for credit enhancement, paying agents, trustees, and attorneys, and for other professional services.
(9) "Public security obligations" means the principal of a public security and any premium and interest on a public security issued under this subchapter, together with any amount owed under a related credit agreement.
(10) Repealed by Acts 2015, 84th Leg., R.S., Ch. 615 , Sec. 31(2), eff. September 1, 2015.
(11) "Public security resolution" means the resolution or order authorizing public securities to be issued under this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 41, eff. June 19, 2009.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 42, eff. September 28, 2011.
Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 21, eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 31(2), eff. September 1, 2015.
Repealed by Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 1.17(2), eff. September 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2210.htm
- Text hash
- sha256 b35c03fb7e2a1c7966a96905634f7feea6fed987e091903db9fdd2bf2bb37e3b
- 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.
Government Code
Insurance Code
- Tex. Ins. Code § 2210.072PAYMENT FROM CLASS 1 PUBLIC SECURITIES; FINANCIAL INSTRUMENTS.Printed as Section 2210.072
- Tex. Ins. Code § 2210.073PAYMENT FROM CLASS 2 PUBLIC SECURITIES.Printed as Section 2210.073
- Tex. Ins. Code § 2210.0741PAYMENT THROUGH CLASS 3 PUBLIC SECURITIES.Printed as Section 2210.0741
- Tex. Ins. Code § 2210.612PAYMENT OF CLASS 1 PUBLIC SECURITIES.Printed as Section 2210.612
- Tex. Ins. Code § 2210.613PAYMENT OF CLASS 2 PUBLIC SECURITIES.Printed as Section 2210.613
- Tex. Ins. Code § 2210.6131PAYMENT OF CLASS 3 PUBLIC SECURITIES.Printed as Section 2210.6131
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 2210.602. Each shows the citation as that text prints it.
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.